Business News

Quebecor World Receives Court Approval to sell European Operations

Monday 23. June 2008 - Quebecor World Inc. (TSX: IQW) has received final court approval to proceed with the sale of its European operations to Hombergh/De Pundert Group (HHBV), a Netherlands based investment group.

“We are pleased to have identified an owner with a pan-European printing focus that will work with our European customers, employees and suppliers to expand the platform we created in Europe,” commented Jacques Mallette, President and CEO, Quebecor World Inc.
As previously announced, under the terms of the agreement, the sale is being made substantially on an “as is, where is” basis. The only condition to closing was court approval. The transaction is not subject to the approval of either Quebecor World’s or HHBV’s shareholders. The transaction is expected to close by the end of June, 2008.
Forward looking statements
This press release may include “forward-looking statements” that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of Quebecor World Inc. (the “Company”), may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “continue” or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company’s business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.
Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company’s actual results to differ from current expectations, please refer to the Company’s public filings available at www.sedar.com, www.sec.gov and www.quebecorworld.com. In particular, further details and descriptions of these and other factors are disclosed in the “Risk Factors” section of the Company’s Management’s Discussion and Analysis for the year ended December 31, 2007.
The forward-looking statements in this press release reflect the Company’s expectations as of June 19, 2008 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws. Quebecor World Inc. is currently subject to Court protection under the Companies’ Creditors Arrangement Act (Canada), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code.