On September 6, 2001, Thomson Corporation sold its 50 per cent interest in a Georgia newsprint mill for US$190 million to its parent company, Woodbridge Company Limited. Abitibi-Consolidated Inc. will retain its 50 per cent interest in Augusta Newsprint Company, which owns the mill.
Torys acted as counsel to Woodbridge and also provided advice on certain matters to Thomson, which was otherwise represented by Ed Friedland, in-house counsel. The Torys team included Dan Donnelly, Darren Baccus, Alex Kau, Jeff Gracer and Amy Johnson-Spina in the New York office and Michael Siltala in the Toronto office. Brad Cost and Nathan Verhagen of Torys\' New York office and Ken McCarter and Jim Welkoff of the Toronto office provided advice to Woodbridge on the financing of the acqusition. Steven Levin and Marc Berger of Davies Ward Phillips & Vineberg LLP in New York acted for Augusta Newsprint.