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Article: BRIEFS.
- Article from:
- NewsInc
- Article date:
- April 21, 2008
CopyrightCOPYRIGHT 2008 The Cole Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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*Catalyst closes Snowflake deal: Following a 27-percent oversubscription to its rights offering, Catalyst Paper Corp. of suburban Vancouver, British Columbia, said last week that it had completed its acquisition of the recycled newsprint mill at Snowflake, Ariz., from AbitibiBowater Inc. for $US161 million. The rights offering raised $C125.3 million ($US122.3 million) and the company said it would be issuing about 167.1 million subscription receipts from the offering. The plant is said to have the lowest operating costs of any in North America and was sold only because it was required by U.S. corporate regulators as a condition of the merger earlier this year of ...