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Mercer to give up TSX listing following loss at NAFTA tribunal

Forest products company had mounted a $250-million claim against the Canadian government in early 2012.


NEW YORK — Mercer International says it intends to voluntarily de-list from the Toronto Stock Exchange on June 11, about three months after it lost a six-year-old NAFTA battle with the Canadian government.

The US-based forest products company had mounted a $250-million claim against the Canadian government in early 2012.

It alleged that BC Hydro and the BC Utilities Commission discriminated against Mercer’s power-generating operations at a pulp mill near Castlegar, BC.

However, a NAFTA tribunal ruled on March 6 that there had been no violation of the deal and it awarded Canada approximately $6.9 million in costs.

Mercer says that its listing on the Nasdaq global select market will be unaffected by its delisting from the Toronto Stock Exchange.

 

News from © Canadian Press Enterprises Inc. 2016

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