Pope & Talbot Acquires Remaining Interest in Harmac

The Vancouver office of Blake, Cassels & Graydon acted for Pope & Talbot Ltd. in connection with its $60,000,000 acquisition of the remaining 40 per cent of Harmac Pacific Inc. which it does not own. Pope & Talbot is a publicly held, Portland, Oregon based pulp and wood products company traded on the New York and Pacific Stock Exchanges. Harmac Pacific Inc. is a softwood kraft pulp producer which is majority-controlled by Pope & Talbot and is listed on the Toronto, Montreal and Vancouver Stock Exchanges. Marion V. Shaw of Bull Housser & Tupper represented Harmac Pacific.

The transaction was structured as a plan of arrangement under British Columbia law and as a going private transaction and a related party transaction under applicable regulatory policies in Ontario and Quebec. The Blake team was comprised of Peter O’Callaghan, Bob Wooder and Tamara Howarth who structured and documented the transaction for Pope & Talbot. W.S. (Bill) Maclagen covered off the tax aspects of the transaction. The deal is expected to be completed in early November.