Grant Forest Products sells mills in Canada and US to Georgia-Pacific in US$400 million deal

On May 26, 2010, Georgia-Pacific announced that it had completed the purchase of Grant Forest Products' oriented strand board (OSB) facility at Englehart, Ontario, as well as the associated facility at Earlton, Ontario, and OSB facilities at Allendale and Clarendon, South Carolina. The acquisition, first announced in January of 2010, totaled approximately US$400 million. The process for the acquisition involved a series of governmental approvals on both sides of the US and Canadian border. These have included the Canadian court overseeing the Grant Forest Products Companies' Creditors Agreement Act filing, the Canadian Competition Bureau, the United States Federal Trade Commission, Investment Canada and the U.S. Bankruptcy Court in Delaware.Fasken Martineau advised the independent directors of Grant Forest Products in this transaction, as part of the company's reorganization, with a team led by Jon Levin and including Edmond Lamek.