Pope & Talbot looks to sell wood products business to Interfor; no competing bids received

By Caroline Salls

Pittsburgh, Dec. 18 - Pope & Talbot, Inc. said it received no competing bids for the assets related to its wood products business, so the company is asking the U.S. Bankruptcy Court for the District of Delaware to approve the sale of the assets to stalking horse bidder International Forest Products Ltd. (Interfor), according to a Monday court filing.

As previously reported, Interfor has agreed to pay $69 million for the wood products business assets, plus the value of current assets and liabilities assumed.

The wood products assets are located at the company's mills in Castlegar, B.C., Grand Forks, B.C., and Spearfish, S.D.

The sale hearing is scheduled for Jan. 7.

Pope & Talbot, a Portland, Ore.-based pulp and wood products company, filed for bankruptcy on Nov. 19. Its Chapter 11 case number is 07-11738.

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