Quebecor World Unloads European Operations
Quebecor World Inc. has announced that a definitive purchase agreement is in place that will turn its European operation over to Hombergh/De Pundert Group (HHBV), a Netherlands-based investment group. The transaction is valued at approximately $200 million.
“The sale of our European operations is an important step in our restructuring activities that we believe should enable us to exit creditor protection in North America as a stronger player in our industry,” says Jacques Mallette, Quebecor World’s president and CEO.
Quebecor World’s European operations include 17 printing facilities employing nearly 3,500 people in Austria, Belgium, Finland, France, Spain and Sweden.