Transcontinental Inc. has received from the Competition Bureau of Canada the necessary authorizations to close the transaction for the indirect acquisition of the shares of Quad/Graphics Canada, Inc. Closing is expected to take place as soon as possible over the next several weeks.
Recall that last July 13 Transcontinental Inc. announced that it had agreed to acquire all the shares of Quad/Graphics Canada, Inc. representing seven facilities (three in Ontario, two in Quebec, one in Alberta, and one in Nova Scotia), that regroup six printing plants and one premedia facility.
In a separate transaction, Transcontinental Inc. has also reached an agreement to sell its Mexican operations as well as transfer its black and white book printing business, destined for US export, to Quad/Graphics. This transaction was completed September 8, 2011. Essentially, these two transactions represent an exchange of assets.