SPI ACQUIRES BC PULP MILL FOR $95M

Skookumchuck Pulp Inc. (“SPI”), a subsidiary of Paper Excellence Canada Holdings Corporation, one of Canada's largest pulp mill operators, completed the acquisition of the Skookumchuck NSBK pulp mill and related assets, located near Skookumchuck, BC, from Tembec Inc. (“Tembec”), a leading manufacturer of forest products, lumber, pulp, paper, for a purchase price of approximately $95 million.

SPI was represented by Miller Titerle LLP with a team led by Jim Titerle that included David Allardice, Ryan Klausing (corporate/ M&A) and Thom Ciz (tax). SPI was also represented by Greg Winfield of McCarthy Tétrault LLP with respect to pensions and benefits matters, and by Gavin Marshall and Jennifer Russell of Roper Greyell LLP with respect to labour matters.

Tembec was represented by its in-house counsel, Patrick LeBel, and was assisted by Stikeman Elliott LLP with a team led by Pierre-Yves Leduc that included Dana Borshy, Adam Cieply, Kevin Custodio (M&A and securities); Rachel Hutton (real estate); Franco Gadoury (tax); Andrea Boctor (pensions and benefits) and Jeff Brown (competition).