The bid by the stalking horse is subject to higher and better offers obtained through the U.S. court-approved sale and investor solicitation procedures. Catalyst expects to receive binding bids for the assets from qualified bidders on December 7, and expects to hold an auction among qualified bidders on December 17 in New York City, N.Y., USA. A hearing in the U.S. court is scheduled for December 19 to consider approval of the sale.
Catalyst Paper produces specialty mechanical printing papers, newsprint, and pulp. With three mills located in British Columbia, Catalyst has a combined annual production capacity of 1.5 million metric tons.
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