Jolina Capital Inc. News
Jolina withdraws its proposal for the recapitalization of Tembec Inc.
The support agreements with the noteholders specifically allow Tembec to negotiate any third party proposal which could reasonably be expected to result in a transaction that is more favorable to Tembec and its stakeholders than the December Proposal (an "Alternative Transaction"). Jolina's decision to withdraw the Jolina Proposal results from Tembec's rejection of the Jolina Proposal and Tembec's refusal to consider it an Alternative Transaction.
SOURCE Jolina Capital Inc.
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