Conifex launches public offering to help fund BW Group buy

Vancouver-based lumber products manufacturer Conifex Timber Inc (TSX: CFF) has launched an offering of subscription receipts intended to generate about $65 million to $72 million (US$50 million to US$55 million). The proceeds will be used to help finance the company's acquisition of BW Group, which holds interests in the Suwannee sawmill in Cross City, Florida and the Caddo River sawmill in Glenwood, Arkansas. The $258 million cash-and-stock deal, announced earlier this month, will see BW Group's majority owner, Blue Wolf Capital Partners, become an investor in Conifex.

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