Resolute to sell Thunder Bay pulp and paper mill to Atlas for $288.5 million

On May 30, 2023, Atlas Holdings LLC has signed an asset purchase agreement to acquire Thunder Bay Pulp and Paper Mill from Resolute Forest Products Inc., a subsidiary of Domtar Corporation and a part of the Paper Excellence Group, for US$218.6 million (295,023,653.00 CAD) The acquisition is expected to close in the second half of 2023, subject to meeting closing conditions and obtaining regulatory approvals. Upon completion, Thunder Bay Pulp and Paper Mill will operate as an independent company. BMO Capital Markets and Stikeman Elliott LLP acted as financial and legal advisors, respectively, for Resolute FP Canada Inc., while Davies Ward Phillips & Vineberg LLP provided legal advisory services to Atlas Holdings LLC.

Deal Type

Merger & Acquisition

Industry

Other

Transaction

$ 295,023,653

Deal Status

Closed

Closing Date

01 August 2023