Resolute – ABH – Increases Ownership of Fibrek to 53.8%

AbitibiBowater Inc., doing business as Resolute Forest Products (NYSE: ABH), announced that it has taken up and accepted for payment 4,893,197 additional shares of Fibrek Inc. deposited to its offer as of the close of business today.  Together with the shares the Company acquired up to and including May 2, Resolute now holds approximately 53.8% of the currently outstanding shares. As aggregate consideration for the shares taken up today, Resolute will distribute approximately 139,000 newly-issued shares of its common stock and CAD$2.7 million in cash through RFP Acquisition Inc., a wholly-owned subsidiary.

Resolute’s offer remains open and expires at 5:00 p.m. (Eastern time) on May 4, 2012.

The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the “SEDAR” website maintained by the Canadian Securities Administrators, as varied and extended.

About Resolute Forest Products – ABH

Resolute Forest Products (ABH) is a global leader in the forest products industry with a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. The Company owns or operates 21 pulp and paper mills and 23 wood products facilities in the United States, Canada and South Korea. Marketing its products in more than 90 countries, Resolute has third-party certified 100% of its managed woodlands to sustainable forest management standards. The shares of Resolute Forest Products, formerly doing business as AbitibiBowater, trade under the stock symbol ABH on both the New York Stock Exchange and the Toronto Stock Exchange.

ABH and other member companies of the Forest Products Association of Canada, as well as a number of environmental organizations, are partners in the Canadian Boreal Forest Agreement. The group works to identify solutions to conservation issues that meet the goal of balancing equally the three pillars of sustainability linked to human activities: environmental, social and economic. ABH is also a member of the World Wildlife Fund’s Climate Savers program, in which businesses establish ambitious targets to voluntarily reduce greenhouse gas emissions and work aggressively toward achieving them.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.