Paper Excellence is one step closer to acquiring Catalyst Paper Corporation.

The Canadian Competition Bureau has issued a no-action letter in respect of Paper Excellence’s previously announced agreement to acquire Catalyst Paper.

That means the two companies can now move towards completing the transaction, which involves the purchase of all of the shares of Catalyst.

Catalyst currently owns mills in Crofton, Port Alberni and Powell River, a distribution centre in Surrey, and headquarters in Richmond.

Paper Excellence C-E-O Brian Baarda says once finalized, the acquisition confirms Paper Excellence’s position as a key player within Canada’s forest industry.