Sino-Forest Corp. (TRE.TO) announced that a sale solicitation process has been initiated with respect to the assets and operations of the Company and its subsidiaries.
Houlihan Lokey, financial advisor to Sino-Forest has commenced solicitation of interest from prospective strategic or financial parties interested in participating in the Sale Process.
The company said that a notice of commencement of the Sale Process will be published in The Globe & Mail and The Wall Street Journal seeking expressions of interest in connection with a potential sale of substantially all of the assets of the Company.
Pursuant to the Sale Process, Houlihan Lokey is soliciting proposals from prospective strategic and financial parties to acquire substantially all of the property, assets and business of Sino-Forest and its subsidiaries, other than certain excluded assets.
The company noted that the Court also appointed FTI Consulting Canada Inc. as the Monitor of Sino-Forest and confirmed Houlihan Lokey as its financial advisor.
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