Baker Botts and Ropes & Gray are advising private equity firm American Industrial Partners on its $920 million acquisition of
Debevoise & Plimpton is advising Domtar. Sale of the personal care unit, which makes diapers and adult incontinence products, among other things, allows the company to expand its paper, pulp, and packaging activities.
Sale resources will “strengthen and invest in the future of Domtar, leading to a more focused business portfolio,” said John D. Williams, Domtar’s president and chief executive officer.
A key aim is to enter the containerboard market as a long-term supplier to the packaging industry, the Fort Mill, S.C.-based company said in a statement.
Domtar, which has annual sales of about $5.2 billion, said the transaction culminates a strategic process it started in August 2020 to find new ways to enhance its value for shareholders, while boosting its balance sheet and liquidity.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
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