Rayonier Advanced Materials completes the sale of its Matane pulp mill in Quebec to Sappi Limited for US$175M
November 04, 2019
175.00 Million USD
On November 4, 2019, Rayonier Advanced Materials Inc. announced that it has completed its previously announced sale of the Matane pulp mill in Quebec and related assets to Sappi Limited, a global wood fiber company, for a total purchase price of US$175 million, subject to adjustments. The mill produces approximately 270,000 metric tons of high-yield pulp annually and sells its product globally for use in manufacturing paperboard, packaging, printing, and writing paper.
Rayonier Advanced Materials, based in Florida, is a global leader of cellulose-based technologies and a manufacturer of products for lumber, paper and packaging markets.
Headquartered in Johannesburg, South Africa, Sappi Limited is a global leader in paper, paper pulp and dissolving wood pulp solutions.
McCarthy Tétrault LLP advised Rayonier Advanced Materials Inc. with a team led by Chrystelle Chevalier-Gagnon that included Clemens Mayr, Konstantin Sobolevski, Charles-Alexandre Jobin and Xin Ci (Corporate and M&A), Oliver Borgers and Jonathan Bitran (Competition), Nicolas Désy, Marie-Soleil Landry, Quentin Lageix and Anthony Sylvain (Tax), Cindy Vaillancourt (Environmental), Deron Waldock and Kelleher Lynch (Pensions and Benefits), Diana Theophilopoulos (Labour and Employment), and Mary Pagonis (Real Estate).