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CVC Capital and Wood panel manufacturer Kronospan to acquire Canadian lumber company West Fraser Timber Co WFG.TO

CVC Capital and Wood panel manufacturer Kronospan to acquire Canadian lumber company West Fraser Timber Co WFG.TO

Posted on July 21, 2022

  • Private equity firm CVC Capital and wood panel manufacturer Kronospan submitted a common declaration of interest to acquire Canadian lumber company West Fraser Timber Co, and they would like to proceed with deal negotiations.
  • Shares of West Fraser, which has a market capitalization of C$10.6 billion ($8.2 billion), soared 15% as news of its acquisition spread.
  • Privately owned Kronospan is a European maker of wood panels such as particle board and laminate flooring and CVC has 125 billion euros ($128 billion) in assets under management.