On November 17, 2005, Abitibi-Consolidated Inc. completed the sale of its 50 per cent share ownership in PanAsia Paper Co. Pte. Ltd. to Norske Skogindustrier ASA for a cash consideration of US$600 million plus a cash purchase price adjustment of up to US$30 million depending on the achievement of certain financial performance objectives in 2006. The price represents a total enterprise value of approximately US$1.85 billion for PanAsia, which operates two newsprint mills in Korea, one in Thailand and two in China.
Abitibi was represented by its in-house counsel Thierry Brossard, and by a team from Davies Ward Phillips & Vineberg LLP that included Peter Mendell, Sébastien Savage, Mark Katz and Simon Lockie (competition) and Mario Cavalancia (tax).
Norske Skog was represented by its in-house counsel Anne Kvam, and by a team from White & Case LLP in London, UK, that included Andrew Weiler and Leonie Pettitt, and Pontus Lindfelt in Brussels.
Abitibi was represented by its in-house counsel Thierry Brossard, and by a team from Davies Ward Phillips & Vineberg LLP that included Peter Mendell, Sébastien Savage, Mark Katz and Simon Lockie (competition) and Mario Cavalancia (tax).
Norske Skog was represented by its in-house counsel Anne Kvam, and by a team from White & Case LLP in London, UK, that included Andrew Weiler and Leonie Pettitt, and Pontus Lindfelt in Brussels.
