Brazil’s Suzano Papel e Celulose SA (SUZB3.SA) will pay Fibria Celulose SA’s (FIBR3.SA) shareholders 52.50 reais ($15.92) per share in a merger that will create the world’s largest pulp maker, the companies said in statements on Friday.
Additionally, Fibria’s shareholders will receive 0.4611 shares of Suzano for every share they hold in Fibria.
https://www.reuters.com/article/us-fibria-m-a-suzano-papel/brazils-suzano-will-pay-52-50-reais-per-share-of-fibria-in-merger-statement-idUSKCN1GS1JH
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All the major shareholder groups of Norske Skogindustrier ASA have indicated their strong support for the consensual recapitalization solution between the Unsecured Committee and the Senior Secured Noteholder Committee reached yesterday. Among the 20 largest shareholders, who control about 38 % of the total number of shares in Norske Skogindustrier ASA, there are already over 75 % support for the recapitalization proposal. At the last general meetings, there have been about 35 - 40 % attendance from the shareholders, where the largest shareholders would constitute more than 90 % of the votes. The transaction will need the support of existing shareholders of Norske Skogindustrier ASA, with a 2/3 majority in an extraordinary general meeting. Among the 20 largest shareholders, there are some nominee accounts, where the shareholder is not known to the public or the company. Such nominee accounts represent almost 20 % of the total number of shares controlled by the 20 largest shareholders, and their vote is therefore unknown to the company. "We are pleased to see that all known major shareholders will support the recapitalization transaction. As repeatedly stated, all alternatives to a consensual solution will entail significantly less value for all parties and rather complicated insolvency processes. If the proposal is successful, the transaction will reduce the group's gross debt from approximately NOK 9 billion to approximately NOK 3 billion and reduce annual cash interest costs from approximately NOK 600 to 200 million", says Mr. Christen Sveaas, chairman and the largest shareholder of Norske Skogindustrier ASA. Click Read More below for additional information.
Norske Skog has extended the deadline for the current exchange offers and consent solicitations to 23 August 2017. The existing short-term standstill agreements has also been extended to 23 August 2017, to allow for additional time to conclude the ongoing stakeholder discussions and finalisation of applicable documentation. The group has received a commitment letter for a EUR 16 million liquidity facility from the majority holders of the SSN (EUR 290m, 2019) bond and the NSF (EUR 100m, 2020) loan. Norske Skog plans to launch a revised recapitalization proposal with support from the majority holders of the SSN bond and the NSF loan early next week. The liquidity facility will allow Norske Skog to meet its operational cash flow needs. "We are very pleased that key stakeholders are supporting the business operations of the group through a committed liquidity facility. Our paper mills are highly competitive businesses with a prosperous future irrespective of the final solution to the group's capital structure." said Lars P.S. Sperre, President and CEO of Norske Skog. Click Read More below for additional detail.
KPLP Q3 2022 Business and Financial Highlights • Revenue was $427.0 million in Q3 2022 compared to $391.4 million in Q3 2021, an increase of $35.6 million or 9.1%. • Net loss was $38.8 million in Q3 2022 compared to $9.3 million in Q3 2021, a decrease of $29.5 million. • Declared a quarterly dividend of $0.18 per share to be paid on January 16, 2023.