Verso Corp., which in November revealed plans to sell its Androscoggin Mill in Jay as part of a $400 million deal, said Monday that it has all the needed regulatory approvals to move forward with the sale, the Bangor (Maine) Daily News reported. The final approval will come Jan. 31, when shareholders meet in New York to vote on the sale at the company’s stockholder meeting. But that meeting likely will be contentious, with two large stockholders opposing the sale. Shareholders Atlas Holdings and Blue Wolf Capital Partners oppose the sale of the mills and have reportedly asked other stockholders to abstain from voting for it. The private equity firms, which together own 9.43 percent of Verso’s stock, have proposed their own directors for Verso’s board. They also jointly own Twin Rivers Paper Co. in Madawaska.
