MONTREAL, May 17, 2012 /CNW Telbec/ - AbitibiBowater Inc., doing
business as Resolute Forest Products (NYSE: ABH) (TSX: ABH), today
announced that it has taken up and accepted for payment 4,762,192
additional shares of Fibrek Inc. (TSX: FBK) deposited to its offer as
of the close of business today. Together with the shares the Company
acquired up to and including May 14, Resolute holds approximately
74.56% of the currently outstanding Fibrek shares. As aggregate
consideration for the shares taken up today, Resolute will distribute
approximately 135,000 newly-issued shares of its common stock and
CAD$2.6 million in cash through RFP Acquisition Inc., a wholly-owned
subsidiary.
The Resolute offer expired at 5:00 p.m. (Eastern time) on May 17, 2012.
As further described in the offer circular and other ancillary
documentation related to the offer (as amended), Resolute intends to
carry out a second step transaction to acquire the Fibrek shares not
deposited in the offer. With more than 66 2/3% of the Fibrek shares
having been deposited to and taken up by Resolute under its offer,
Resolute is in a position to cause a second step transaction to be
approved by Fibrek's shareholders at a special meeting of shareholders
to be convened and held for such purpose.
Important Notice
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of any
vote or approval. Resolute has filed with the SEC a registration
statement on Form S-4, as amended, in connection with the proposed
transaction with Fibrek. INVESTORS AND SECURITY HOLDERS OF RESOLUTE AND FIBREK ARE URGED TO READ
THESE DOCUMENTS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO, AND
ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Such documents are available free of charge through the
web site maintained by the SEC at www.sec.gov, by calling the SEC at telephone number 800-SEC-0330, on SEDAR at www.sedar.com or on Resolute's website at www.resolutefp.com.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products
industry with a diverse range of products, including newsprint,
commercial printing papers, market pulp and wood products. The Company
owns or operates 21 pulp and paper mills and 23 wood products
facilities in the United States, Canada and South Korea.