GreenFirst Forest Products to acquire Rayonier’s lumber mills
Rayonier Advance Materials and GreenFirst Forest Products Inc. (GreenFirst), a Canadian lumber company, announced that the parties have entered into a binding asset purchase agreement in which Rayonier has agreed to sell all of its six lumber and one newsprint facilities and related assets located in Ontario and Quebec to GreenFirst for an expected purchase price of approximately $214 million (USD), including inventory on hand at the time of closing, which will be payable in approximately 85% cash, 15% common shares of capital GreenFirst. Rayonier and GreenFirst have also agreed to a 20-year residual fiber supply agreement ...
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