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Interfor acquires minority interest in GreenFirst Forest Products
May 3, 2022 By CFI staff
Interfor has purchased more than 16 per cent of GreenFirst Forest Products’ common shares for $56 million, the company announced yesterday.
Interfor acquired a total of 28,684,433 common shares in the capital of GreenFirst Forest Products Inc. from Rayonier A.M. Canada G.P., which represents approximately 16.2 per cent of the issued and outstanding common shares.
The investment in GreenFirst, the company said, builds upon Interfor’s recent expansion into eastern Canada through the acquisition of EACOM Timber Corporation in February.
GreenFirst is Eastern Canada’s newest forest products company, operating sawmills and a newsprint plant in Ontario and Quebec. The company’s lumber capacity sits at around 905 million board feet, with forest tenure amounting to approximately 3.6 million cubic metres.
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