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TORONTO, March 30, 2010 /CNW/ - Norbord Inc. (the "Corporation") (TSX: NBD, NBD.WT) announced that the secondary offering of Common Shares of the Corporation by Brookfield Asset Management Inc. ("Brookfield"), through a wholly-owned subsidiary, was completed today through a syndicate of investment dealers led by TD Securities Inc. and RBC Capital Markets. The transaction included the previously announced sale of shares of the Corporation by two Norbord Inc. executives.
Before giving effect to any exercise of an over-allotment option granted to the underwriters of the offering, Brookfield and its affiliates now own approximately 22.8 million Common Shares, representing a 53% interest in the Corporation.
The Corporation did not receive any proceeds from the offering.
This press release is not an offer of securities for sale in the United States. The Common Shares being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.
Norbord Inc. is an international producer of wood-based panels with assets of $1.0 billion, employing approximately 1,950 people at 14 plant locations in the United States, Europe and Canada. Norbord is one of the world's largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF) and related value-added products. Norbord is a publicly traded company listed on the Toronto Stock Exchange under the symbols NBD and NBD.WT.
SOURCE Norbord Inc.
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