Quebecor World Merges Euro Business with RSDB
MONTREAL—Quebecor World has sold a majority share of its European operations to RSDB Group in a deal with a total value of $341 million.
Under terms of the transaction, Quebecor World will retain a 29.9 percent interest in the new company, which will be called Roto Smeets Quebecor (RSQ) and be listed on the Euronext Amsterdam stock exchange. In all, Quebecor World will receive $213 million in cash, a $50 million note and 1.4 million shares.
The deal, which is subject to the approval of RSDB shareholders and the European Commission, is slated to close by the end of the year.
Quebecor World’s European operations include 18 printing and related facilities employing about 4,000 people in Austria, Belgium, Finland, France, Spain, Sweden and the United Kingdom.
In another move, Quebecor World shuttered its Vancouver plant, resulting in the loss of 220 jobs.