QUEBECOR PRINTING AND WORLD COLOR TO MERGE
By Adnews Staff
Quebecor Printing Inc. is becoming Quebecor World Inc. and turning into the largest commercial printer in the world after acquiring all the shares of Greenwich, Connecticut-based World Color Press, Inc. Quebecor acquired World Color Press in a transaction valued at $2.7 billion (US). Quebecor will pay approximately $840 million (US) in cash, representing $35.69 (US) per share, and assume World Color's debt in the amount of $1.3 US billion. Current clients of Quebecor include: Sears, Time, Fortune, People, Sports Illustrated, USA Weekend, Parade, Simon & Schuster, Marks & Spencer, Christian Dior and Maclean Hunter. The company operates 115 facilities in 14 countries on four continents. World Color Press' three largest business segments include: commercial inserts and circulars, magazines and catalogs and books, and direct mail and directories. It has 58 facilities across the United States. The deal is expected to be completed within four months.