RFP - Resolute Forest to acquire Louisiana-Pacific's 50% equity interest in two JV's; buys Boralex Senneterre biomass power plant

Resolute Forest Products (NYSE:RFP) announced two separate transactions to grow and improve the competitiveness of its wood products business. Resolute reached an agreement with Louisiana-Pacific (NYSE:LPX) to acquire the latter's 50% equity interest in two joint ventures that produce I-joists in the Lac-Saint-Jean region of Quebec for $50M. Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership are located in Larouche and Saint-Prime, respectively, and are equity method investments in which Resolute has a 50% interest in each entity. Resolute operates the facilities and its joint-venture partner, Louisiana-Pacific, sells the products. Resolute will enter into agreements with Louisiana-Pacific to continue to serve as the exclusive distributor of the engineered wood products manufactured at the two operations. The deal is expected to close in the first half of 2022. Resolute intends to pay for the purchases with cash on hand. In a separate transaction, Resolute also announced an

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Resolute Forest to acquire Louisiana-Pacific's 50% equity interest in two JV's; buys Boralex Senneterre biomass power plant