Quebecor World Faces Financial Woes

MONTRÉAL—With its stock value plummeting and a weak credit market causing it to nix a refinancing plan, Quebecor World appears destined for major changes in 2008.

The venerable printer sold a majority share of its European operations to RSDB Group in a deal with a total value of U.S.$341 million. Under terms of the transaction, Quebecor World will retain a 29.9 interest in the new company, which will be called Roto Smeets Quebecor (RSQ) and listed on the Euronext Amsterdam. In all, Quebecor World will receive $213 million in cash, a $50 million note and 1.4 million shares.