Resolute (RFP), Fibrek Complete Second Step Plan of Arrangement

August 1, 2012 8:17 AM EDT
Resolute Forest Products Inc. (NYSE: RFP) and Fibrek Inc. announced the completion of their previously announced second step plan of arrangement transaction (the "arrangement"), whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated resulting in Resolute indirectly owning 100% of the shares of Fibrek Inc. This announcement comes following the approval of the arrangement by Fibrek's shareholders on July 23, 2012 and the issuance of a final order of the Superior Court of Quebec on July 27, 2012 approving the arrangement.

Fibrek has applied for its common shares to be delisted from the Toronto Stock Exchange and expects such delisting to be effective as of the close of markets on August 2, 2012. In addition, Fibrek has applied and made the required filings with the relevant Canadian securities regulatory authorities in order for Fibrek to cease to be a reporting issuer or the equivalent in the relevant Canadian provinces and territories.

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