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Article: Avenor Completes Pacific Forest Sale, Uses Proceeds to Reduce Debt.
- Article from:
- Business Wire
- Article date:
- December 11, 1997
CopyrightCOPYRIGHT 1997 Business Wire. 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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MONTREAL--(BUSINESS WIRE)--Dec. 11, 1997--AVENOR INC.(ME:AVR.) (TSE:AVR.) (NYSE:ANR) Avenor Inc. announces that it has completed the sale of its 53 percent interest in Pacific Forest Products Limited for cash proceeds of $302 million. The transfer of ownership to TimberWest Forest Holdings, a subsidiary of TimberWest Timber Trust, and Doman Forest Products Ltd., a wholly owned subsidiary of Doman Industries Limited, followed the approval by the Minister of Forests of British Columbia of the transfer of Pacific Forest's Crown timber tenures.
Concurrently with this closing, Avenor sent a notice of redemption to the holders of its Series F Senior Notes and a ...
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... ... WIRE)--Oct. 3, 1995--PACIFIC FOREST PRODUCT (TSE, ME, VSE ... 1995, the directors of Pacific Forest Products Limited ("Pacific") approved ... outstanding shares of Mayo Forest Products Ltd. ("Mayo") from Mitsubishi ...
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