Quebecor World Receives Court Approval to sell European Operations
Press release from the issuing company
Montréal, Canada (June 22, 2008) Quebecor World Inc. has received final court approval to proceed with the sale of its European operations to Hombergh/De Pundert Group (HHBV), a Netherlands based investment group. "We are pleased to have identified an owner with a pan-European printing focus that will work with our European customers, employees and suppliers to expand the platform we created in Europe," commented Jacques Mallette, President and CEO, Quebecor World Inc.
As previously announced, under the terms of the agreement, the sale is being made substantially on an "as is, where is" basis. The only condition to closing was court approval. The transaction is not subject to the approval of either Quebecor World's or HHBV's shareholders. The transaction is expected to close by the end of June, 2008.
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