Quebecor World to sell European operations

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Montreal—Quebecor World, which provides printing and advertising services, announced that it has agreed to sell its European operations to a Netherlands-based investment group in a deal valued at more than $200 million.

The sale to Hombergh/De Pundert Group (HHBV), is expected to close at the end of the month.

Earlier this year, Quebecor World filed for Chapter 11 bankruptcy protection.

“The sale of our European operations is an important step in our restructuring activities that we believe should enable us to exit creditor protection in North America as a stronger player in our industry,” said Jacques Mallette, president-CEO of Quebecor World, in a statement.

Quebecor World’s European operations include 17 printing and related facilities employing about 3,500 people in Austria, Belgium, Finland, France, Spain and Sweden.

Quebecor World Europe produces magazines, catalogs, retail inserts, direct mail products, books and directories for retailers, publishers and marketing companies.

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