Groupe Laperrière & Verreault Inc. obtains credit facilities and sells off business groups
Date Closed
August 10, 2007
Lead Office
Montréal
Value
175.00 Million CAD
On August 10th, 2007, through a court-approved plan of arrangement, a Canadian subsidiary of FLSmidth & Co acquired all the outstanding Class A subordinate voting shares and Class B multiple voting shares of Groupe Laperrière & Verreault Inc. (“GL&V”) thereby acquiring the Process Group of GL&V. Prior to the closing, GL&V transferred its Water Treatment and Pulp and Paper Groups to GLV Inc. through a series of share and asset transfers and a corporate reorganization carried out in approximately 23 countries. Prior to the closing of the arrangement, GLV obtained credit facilities of $175 million from a banking syndicate led by National Bank of Canada (as Administrative and Collateral Agent) and JP Morgan Chase Bank N.A. (as Syndication Agent).