December 6, 2024 (press release) –
Today, FSC met with representatives of Domtar to discuss the potential implications of the transfer of the beneficial ownership of Asia Pulp and Paper (APP) to Mr. Jackson Wijaya (the current beneficial owner of Domtar) and to agree on the next steps forward in the legal review of the corporate and ownership links between Domtar and APP.
We understand that the transfer of the beneficial ownership of APP to Mr. Jackson Wijaya has not yet taken place, and no details are available to us on the date of the expected transfer.
The parties agreed to cooperate on a fast and rigorous process of review to examine the shareholding and ownership relationships, if any, between Domtar and APP because of this planned transfer. This review will be commissioned immediately and concluded after the transfer of beneficial ownership of APP to Jackson Wijaya is complete.
The various elements of the agreement will be contained in a memorandum of understanding to be signed between the parties in the coming weeks. Both parties agreed to the importance of a high-integrity process of review, which is conducted independently and impartially.
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