UPP gets to regain majority stake in Canada wood firm Taiga
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Singapore
SINGAPORE-listed paper mill company UPP Holdings is regaining a majority stake in Canada's largest wholesale distributor of building materials, Taiga Building Pro-ducts (Taiga), for C$27.7 million (S$28.2 million).
This price includes UPP acquiring C$13.8 million of debt owed by the target company, Kublai Canada, to Genghis Sarl (Gen-ghis). The debt bears interest at 9 per cent per year.
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