Angelo, Gordon & Co., L.P.

Angelo, Gordon & Co., L.P.

February 23, 2010 17:00 ET

Acquisition of Securities of World Color Press Inc. by Angelo, Gordon & Co., L.P.

NEW YORK, NEW YORK--(Marketwire - Feb. 23, 2010) - Angelo, Gordon & Co., L.P. ("Angelo, Gordon") announced today that, in connection with the recently completed restructuring of World Color Press Inc. (formerly Quebecor World Inc.) ("WCP") and subsequent market transactions, it has acquired, through various investment funds under its management, an aggregate of 6,230,545 common shares ("Common Shares"), 981,042 Class A convertible preferred shares ("Preferred Shares") and warrants to acquire 945,344 Common Shares of WCP ("Warrants").

Assuming the conversion of all the Preferred Shares and the exercise of all of the Warrants held by Angelo Gordon, the aggregate percentage of the WCP Common Shares held is approximately 10.85% of the Common Shares that would then be outstanding.

Angelo, Gordon acquired its Common Shares, Preferred Shares and Warrants pursuant to (i) the terms of plans of reorganization for WCP that were approved by the Quebec Superior Court and the U.S. Bankruptcy Court for the Southern District of New York on June 30, 2009 (the "Plan"), and (ii) open market transactions on the Toronto Stock Exchange occurring after the Plan. Immediately prior to the reorganization, investment funds managed by Angelo, Gordon held certain indebtedness of WCP which was exchanged for Common Shares, Preferred Shares and Warrants in connection with the implementation of the Plan.

Angelo, Gordon has acquired these securities in the ordinary course of business and not with the purpose of influencing the control or direction of WCP. Depending on market and other conditions, Angelo, Gordon may, from time to time, increase or decrease its ownership, control or direction over the Common Shares, Preferred Shares, Warrants or other securities of WCP.

Contact Information

  • Angelo, Gordon & Co., L.P.
    Lisa Conrad
    (212) 692-8220
    Angelo, Gordon & Co., L.P.
    245 Park Avenue, 26th Fl
    New York, NY 10167