Monday, August 14, 2017 11:15 am

JACKSONVILLE, Fla. & MONTREAL, Québec -- Rayonier Advanced Materials Inc. and Tembec Inc. announced that they received notification from the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China (often referred to as MOFCOM) that it has cleared, without condition, the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act (the "Transaction") involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec.

The Transaction has already received antitrust clearance from Germany's Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission have notified Rayonier Advanced Materials and Tembec that the Hart-Scott-Rodino premerger notification waiting period was terminated. The Transaction has also been approved by the Québec Superior Court. Applications for clearance from the applicable regulatory authorities in Canada remain pending. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of the conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.

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