Cyrus Capital Partners increases stake in Catalyst Paper

U.S. distressed debt investor Cyrus Capital Partners has acquired indirect control over an additional 1.45 million common shares of Catalyst Paper Corp (TSX: CYT), a Canadian manufacturer of specialty mechanical printing papers, newsprint and pulp. Following completion of the transaction, Cyrus had indirect control over about 6.3 million shares, or approximately 43.3 percent of the company's total issued and outstanding shares. The Richmond, British Columbia-based Catalyst in October agreed to acquire the Biron paper mill in Wisconsin and the Rumford pulp mill in Maine for US$74 million.

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