- TM Capital acted as financial advisor to the independent members of the Board of Directors of Fibrek Inc. on its proposed Arrangement to amalgamate with a wholly-owned indirect subsidiary of Resolute Forest Products Inc.
- Fibrek is a leading producer of high-quality virgin and recycled kraft pulp at three mills with combined annual production capacity of 760,000 metric tons located in Saint-Félicien, Québec, Fairmont, West Virginia, and Menominee, Michigan
- The Arrangement constituted the second step transaction for Resolute to acquire all the Fibrek shares not deposited in the take-over bid it launched on December 15, 2011
- TM Capital provided the independent members of Fibrek’s Board with an opinion that the consideration payable to Fibrek shareholders in the Arrangement was fair, from a financial point of view, to the shareholders of Fibrek (other than RFP Acquisition)
- The Arrangement valued Fibrek at approximately C$224 million as of the date of TM Capital’s fairness opinion
- Resolute is a global leader in the forest products industry with a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. Its shares trade on the New York and Toronto Stock Exchanges
- The acquisition complements Resolute’s existing market pulp operations at five mills with annual production capacity of 1.1 million metric tons
Paper & Packaging,
Industrials
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Corporate Finance Advisory
