Date Closed

April 1, 2007

Lead Office

Montréal

Value

297.50 Million CAD

On April 1, 2007, Abitibi-Consolidated, a global leader in newsprint and commercial printing papers and a major producer of wood products, sold eight Ontario hydroelectric generation facilities to ACH Limited Partnership, a joint venture with the Caisse de dépot et placement du Québec. The transaction, on a consolidated basis, yielded gross proceeds of C$297.5 million to Abitibi-Consolidated. In addition to acquiring 25% of ACH Limited Partnership, the Caisse provided ACH Limited Partnership a C$250 million term loan to partially fund the acquisition of the facilities, with the Canadian Imperial Bank of Commerce providing a C$15 million revolving credit facility.

Abitibi-Consolidated is among the largest recyclers of newspapers and magazines in North America and this joint-venture reflects the ongoing strategic importance of Abitibi-Consolidated’s electricity generation assets.

McCarthy Tétrault LLP acted on behalf of the Caisse and CIBC in connection with the term loan and the revolving credit facility with a team that included Michel Deschamps and Richard O'Doherty.