Canfor Corporation has finalized the acquisition of all remaining shares of Canfor Pulp Products Inc., achieving full ownership of the company following a court-approved plan of arrangement. Through the transaction, Canfor acquired approximately 29.5 million shares, representing around 45% of the outstanding share capital, bringing its total ownership to 100%. Prior to the deal, Canfor and its affiliates already held about 55% of the company.
Under the agreed terms, shareholders of Canfor Pulp were offered the option to receive either 0.0425 Canfor Corporation shares or $0.50 in cash for each share held. The total consideration for the acquisition amounted to approximately $4.0 million in cash, along with the issuance of 912,217 Canfor Corporation shares.
The move strengthens Canfor’s control over its pulp operations and simplifies the group’s corporate structure, allowing for a more integrated management of its wood products and pulp businesses.
