Wagner Forest Acquires Timberlands

On December 28, 2005, Abitibi-Consolidated Inc. completed the sale of its privately owned timberlands near Thunder Bay, Ontario, to North Star Forestry Ltd., a subsidiary of Wagner Forest Management Ltd. of Lyme, New Hampshire, for a purchase price of $55 million. The timberlands comprise approximately 196,000 hectares (or about 485,000 acres).

Wagner Forest Management was represented by Stikeman Elliott LLP with a team that included Kevin Kyte and Dean Koumanakos (corporate), Luc Bernier and Jean-Guillaume Shooner (tax) and Lorna Cuthbert (employment). Robert Paciocco of Laidlaw, Paciocco, Melville of Sault Ste. Marie, Ontario, acted as co-counsel.

Abitibi-Consolidated was represented in-house by Mélanie Allaire, legal counsel, and by Davies Ward Phillips & Vineberg LLP with a team that included Hillel Rosen, Don Stanbury, Grant McIntyre and Alexandria Pike (environment).