03:32 PM EST - Cascades Inc. : announces that it has completed the previously announced sale of Dopaco Inc., its paper cup and carton converting business for the quick-service restaurant and foodservice industries, to Reynolds Group Holdings Limited for a cash consideration of $400 million U.S. Net proceeds from the transaction should amount to approximately $337 million U.S. and will mainly be used to pay down Cascades' debt. In connection with the transaction, Cascades will continue to supply boxboard to Dopaco, through a five-year non-exclusive supply agreement. Cascades Inc.
shares T.CAS are trading down $0.01 at $6.89.
