John D. Williams

Domtar Corporation today announced that it has entered into an agreement to sell its forest products business to EACOM Timber Corporation (TSX-V: ETR; "EACOM") for CDN$80 million plus elements of working capital estimated at CDN$30 to CDN$40 million. Domtar will receive 19% of the proceeds in shares of EACOM. The transaction is expected to close at the end of the second quarter of 2010, subject to material consents and customary closing conditions.

More Blogs