On October 22, 2015, Hokuetsu Kishu Paper Co., Ltd. (Hokuetsu), a leading manufacturer of pulp and paper products in Japan, completed its acquisition of all of the issued and outstanding shares of Alpac Forest Products Incorporated (APFI) and Alpac Pulp Sales Inc. (APSI) from Mitsubishi Corporation (Mitsubishi) and Oji Holdings Corporation. APFI and APSI collectively carry on the business of pulp manufacturing and sale in Canada.
The aggregate consideration for the acquired AFPI and APSI shares is approximately $75 million, subject to customary adjustments at and after closing.
Hokuetsu was represented in Japan by Ushijima & Partners with a team led by Hiroshi Watanabe and including Rikisuke Yamanaka, Shinobi Yanagita and Yuki Tsuchiya. Hokuetsu was represented in Canada by Stikeman Elliott LLP with a team led by Erik Richer La Flèche and including Patrick McNally and Zhuo Chen (corporate/M&A), Catherine Grygar (real estate), Kris Noonan (employment) and Shawn Neylan and Michael Laskey (competition).
APFI and APSI were represented in Canada by MacKenzie Fujisawa LLP with a team led by Ken Krohman and including Brian Konst and Aalisha Dhalla.