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Domtar Corporation has applied to the Canadian Securities Regulatory Authorities to cease being a reporting issuer in several provinces following its acquisition by Karta Halten B.V. This application may impact Domtar's regulatory reporting obligations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland, and Labrador. This decision comes in line with the completion of the acquisition announced on November 18, 2021, and is being executed in accordance with Canadian securities laws.
Domtar has announced a significant partnership with the Nature Conservancy of Canada (NCC), marking the execution of Canada's largest private land conservation agreement. The agreement involves transferring a 1,450 square kilometer tract of boreal forest in Ontario to NCC for $7 million below its appraised value, shifting from wood supply management to research and conservation. This move is supported by provincial and federal governments, emphasizing sustainable land management and the positive ecological impact of the Boreal Wildlands initiative.
Domtar Corporation has announced the expiration of its offers to repurchase outstanding 6.25% Senior Notes due 2042 and 6.75% Senior Notes due 2044. As of the expiration date on January 3, 2022, approximately
Domtar Corporation announced the launch of Consent Solicitations for its 6.25% Senior Notes due 2042 and 6.75% Senior Notes due 2044 to amend the indenture governing these notes. The solicitations commence December 2, 2021, with a deadline of December 10, 2021. Additionally, Domtar offers to purchase the outstanding notes at 101% of their principal amount plus interest, following a recent merger with Karta Halten B.V. Proposed amendments to the indenture include removing certain reporting requirements.
The Paper Excellence Group has successfully completed the acquisition of Domtar (NYSE: UFS), enhancing its position as an industry leader. The deal broadens Paper Excellence's global reach and product range, including airlaid nonwovens and containerboard, alongside increased pulp and paper production. Domtar will function as a stand-alone entity under its current management, with stockholders receiving USD$55.50 per share. Domtar's stock will no longer be publicly traded.
Domtar Corporation (NYSE: UFS) and Paper Excellence B.V. have received Canadian Competition Act approval for their merger, wherein Karta Halten B.V. will acquire all outstanding shares of Domtar for $55.50 per share in cash. The approval fulfills the final condition for closing the transaction, anticipated in Q4 2021, after the divestiture of Domtar’s pulp mill in Kamloops, British Columbia, addressing competition concerns regarding the wood fibre market in the Thompson/Okanagan region.
Domtar confirmed the tragic death of two workers, Mr. Hugo Paré and Mr. Yan Baillargeon, following a scaffolding collapse at the Windsor mill on October 26. The company extends its condolences to the victims' families and affected colleagues, emphasizing its commitment to support them during this difficult time. Domtar is cooperating with ongoing investigations by the Sûreté du Québec and the CNESST to determine the accident's cause. Domtar operates as a leading supplier of fiber-based products, reporting nearly $3.7 billion in annual sales.
At 1:35 a.m. in Windsor, Quebec, a scaffold collapsed at the Domtar Windsor Mill, injuring three workers. One was hospitalized but is not in danger, while two others remain trapped, prompting rescue efforts. Psychological support is being offered to affected personnel. The Sûreté du Québec and mill emergency services, along with the CNESST, are handling the ongoing investigation into the incident's cause, and safety measures have been implemented at the site.
Domtar Corporation (NYSE:UFS) and Karta Halten B.V. announced the pricing of $775 million in senior secured notes due 2028, part of the financing for Domtar's proposed acquisition by Karta Halten. The notes will mature on October 1, 2028, and interest payments will occur semi-annually. Proceeds will be used for cash consideration in the merger, repurchase existing senior notes, and cover related expenses. The offering's completion is contingent on the merger's success, set for October 18, 2021, with potential mandatory redemption if the merger isn't finalized by May 18, 2022.
Domtar Corporation and Karta Halten B.V. announced a $750 million offering of senior secured notes due 2028 to finance the proposed acquisition of Domtar. The offering is contingent upon the merger completion, with a closing date set before February 17, 2022. Proceeds will be utilized to cover cash consideration for the merger, refinance existing debts, and support related transaction costs. The notes will only be available to qualified institutional buyers and will not be registered under the Securities Act. This acquisition aims to strengthen Domtar’s market position and streamline operations.
