First Quality Enterprises, Inc. entered into an agreement to acquire Dryden pulp mill from Domtar Corporation on February 28, 2023. The transaction is subject to customary closing conditions, including receipt of required regulatory approvals and the closing of the Resolute Forest Products Inc. transaction. The sale of the Dryden Mill is a requirement under the consent agreement between Domtar and the Canadian Competition Bureau in connection with its review of Domtar?s planned acquisition of Resolute.

The sale is subject to regulatory conditions, including approval by the Commissioner of Competition and clearance under the Hart-Scott-Rodino Act. As of August 2, 2023 Competition Bureau has approved the deal. BMO Capital Markets is acting as exclusive financial advisor to Domtar, and McCarthy Tétrault LLP, and McMillan LLP are acting as legal advisors.

Wachtell, Lipton, Rosen & Katz, and Osler, Hoskin & Harcourt LLP are acting as legal advisors to First Quality.