Domtar, Paper Excellence Merger Receives Canadian Competition Bureau Approval

Domtar Corporation (NYSE: UFS) and Paper Excellence B.V. have received Canadian Competition Act approval for their merger, wherein Karta Halten B.V. will acquire all outstanding shares of Domtar for $55.50 per share in cash.

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(All financial information is in U.S. Dollars)

RICHMOND, British Columbia & FORT MILL, S.C.--(BUSINESS WIRE)-- Paper Excellence B.V. (“Paper Excellence”) and Domtar Corporation (NYSE: UFS) (TSX: UFS) jointly announced that they have received Canadian Competition Act approval for their business combination whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash pursuant to an agreement and plan of merger dated May 10, 2021 (the “Merger”).

The consent agreement filed by the Canadian Commissioner of Competition (“Commissioner”) with the Competition Tribunal today fulfills the final condition to the closing of the Merger. The consent agreement requires that, following the closing of the Merger, Domtar’s pulp mill in Kamloops, British Columbia be sold to resolve the Commissioner’s concerns about the Merger’s implications on the purchase of wood fibre from the Thompson/Okanagan region in British Columbia.

The transaction remains on course to close in the fourth quarter of this year.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118006347/en/

Paper Excellence Contacts

Media
Ross Lovern / Hallie Wolff Kekst
Tel.: 917-842-7205 / 917-842-1127

Domtar Contacts

Investors & Media
David Struhs
Vice-President
Corporate Services & Sustainability
Tel.: 803-802-8031

Source: Domtar Corporation