Cascades Inc. has reached an agreement to sell all of its shares in Boralex to the Caisse de dépôt et placement du Québec (the Caisse) for an amount of $287.5 million, as the company said in the press release received by Lesprom Network.

Cascades was formerly a majority shareholder in Boralex, but has gradually had its ownership stake in the company diluted to 17.3% as Boralex has grown over recent years. Over the last several months, Cascades management has undertaken an in-depth assessment, and has evaluated the Company's alternatives with regards to its investment in Boralex.

As a result of this analysis, management made the strategic decision to monetize its investment and selected the Caisse to complete this major transaction.

Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.

 

Source: lesprom.com

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