Firm clears competition hurdle in Catalyst mills buy

The Catalyst Paper mill at Crofton. Photograph By Jo-Ann Richards, Catalyst Paper

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Richmond-based Paper Excellence is a step closer to acquiring Catalyst Paper.

The company, controlled by Asian investors, has cleared the Canada’s Competition Bureau, which issued a “no-action” letter in response to the proposed acquisition.

“This acquisition demonstrates Paper Excellence’s continuing deep commitment to the province of British Columbia,” said chief executive Brian Baarda.

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Source: Times Colonist