Abitibi-Consolidated Sells Pulp Mill

In August 2002, Montreal-headquartered Abitibi-Consolidated Inc. completed a $444.375 million initial public offering of trust units of SFK Pulp Fund, a newly created income fund established to acquire Abitibi-Consolidated’s northern bleached softwood kraft (NBSK) pulp mill located in Saint-Félicien, Quebec for a total purchase price of $692.5 million. Credit facilities in the aggregate maximum amount of $125 million were also made available to the fund.

Louis G. Véronneau, Stéphanie Leclaire, Mélanie Allaire and Thierry Brossard of Abitibi-Consolidated Inc. were assisted by a team from Davies Ward Phillips & Vineberg LLP led by Maryse Bertrand, and assisted by Mario Cavalancia, Claude Jodoin, Robert Raizenne, Brian Bloom and Marie-Emmanuelle Vaillancourt (tax), Olivier Désilets and Marie-Christine Lemerise (securities), Lisa Damiani and Joseph Jarjour (corporate/commercial), Michel Pelletier and Sandra Gaudreault (environmental), Elias Benhamou and Sébastien Thériault (banking and real estate) and Janet Ferrier (pension) in Montreal, Gray Taylor and Shauna Finlay (environmental) in Toronto and Guy Lander, Scott Tayne and Pascal de Guise (securities) and Joshua Wanderer (tax) in New York.

CIBC World Markets Inc. and Scotia Capital Inc. co-led the underwriting syndicate that included National Bank Financial Inc., RBC Dominion Securities Inc. and UBS Bunting Warburg Inc. Stikeman Elliott acted as counsel to the underwriters, with a team that included Franziska Ruf, Philippe De Montigny and Nicolas Vanasse (securities and corporate/commercial), Luc Bernier, Frédéric Harvey and Marie-Andrée Beaudry (tax), Jean Carrier (environmental), Etienne Massicotte (banking), Bertrand Ménard (real estate) and Michel Legendre and Gary Nachshen (pension). Michel Deschamps and Richard O’Doherty of McCarthy Tétrault LLP represented the banking syndicate.

Lawyer(s)

Marie-Emmanuelle Vaillancourt Sandra Gaudreault Robert Raizenne Guy Lander Marie-Christine Lemerise Frédéric Harvey Sébastien Thériault Franziska Ruf Nicolas Vanasse Jean Carrier Marie-Andrée Beaudry Gray E. Taylor Michel Legendre Shauna Finlay Elias Benhamou Scott Tayne Mario Cavalancia Olivier Désilets Richard O'Doherty Etienne Massicotte Maryse Bertrand Janet Ferrier Luc Bernier Pascal de Guise Michel Pelletier Lisa Damiani Joseph Jarjour Michel Deschamps Brian Bloom Bertrand P. Ménard Claude E. Jodoin

Firm(s)

Davies Ward Phillips & Vineberg LLP Davies Ward Phillips & Vineberg LLP Stikeman Elliott LLP Stikeman Elliott LLP McCarthy Tétrault LLP Davies Ward Phillips & Vineberg LLP