Quebecor World Inc. Receives Binding Financial Proposal
Montréal, Quebec, Canada, 11 January 2008 -– Quebecor World Inc. (TSX: IQW, NYSE: IQW) today acknowledged that it has received a binding proposal with respect to a potential CAD 400 million rescue financing submitted jointly by Quebecor Inc. and Tricap Partners Ltd.
Quebecor Inc. is the controlling shareholder of Quebecor World, holding approximately 84.5% of the voting interests and 35.5% of the equity interests in the company. Quebecor World understands that Tricap Partners is a private equity fund managed by Brookfield Asset Management Inc.
The management of Quebecor World has determined, after a preliminary review with its advisors, that the submitted proposal is meaningful and serious in light of the circumstances and the company’s current financial situation.
The board of directors of Quebecor World has established a special committee of independent directors for the purpose, among other matters, of reviewing and considering the terms of the rescue financing proposal. The Board, the Independent Committee and Company management, together with their various financial and legal advisors, will diligently review and consider the terms of the financing proposal in the coming days.
About Quebecor World
Quebecor World Inc. (TSX: IQW, NYSE: IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The company is a market leader in most of its major product categories, including advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies, and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland, and the United Kingdom.
Web address: www.quebecorworld.com