SC 13D 1 d124212dsc13d.htm SC 13D SC 13D

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.     )

 

 

 

West Fraser Timber Co. Ltd.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

952845105

(CUSIP Number)

Justin B. Beber

Brookfield Asset Management Inc.

Brookfield Place

181 Bay Street, Suite 300

Toronto, Ontario M5J 2T3

(416) 363-9491

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

February 1, 2021

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☒

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD ASSET MANAGEMENT INC.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  ONTARIO, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  23,481,584 (1)

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  23,481,584 (1)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  23,481,584 (1)

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  19.4%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  CO

 

(1)

This amount consists of common shares of West Fraser Timber Co. Ltd (the “Issuer”) directly held by BPE OSB Investment Holding LP, Brookfield Capital Partners II L.P., Brookfield Investments Corporation and Brookfield Private Equity Group Holdings LP, for which the reporting person may be deemed to be a beneficial owner. See Item 4(a) for more information.

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD INVESTMENTS CORPORATION

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  ONTARIO, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  11,289,178

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  11,289,178

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  11,289,178

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  9.3%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  CO

 

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD PRIVATE EQUITY GROUP HOLDINGS LP

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  MANITOBA, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  861,752

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  861,752

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  861,752

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0.7%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  PN

 

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BPE OSB INVESTMENT HOLDING LP

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  ONTARIO, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  7,667,752

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  7,667,752

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  7,667,752

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  6.3%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  PN

 

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD CAPITAL PARTNERS II L.P.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  DELAWARE

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  3,662,902

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  3,662,902

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  3,662,902

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  3.0% (2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  PN

 

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD CAPITAL PARTNERS LTD.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  ONTARIO, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  3,662,902 (1)

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  3,662,902 (1)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  3,662,902 (1)

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  3.0%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  CO

 

(1)

Consists of common shares of the issuer directly held by Brookfield Capital Partners II L.P., for which the reporting person may be deemed to be a beneficial owner. See Item 4(a) for more information.

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

  1    

  NAMES OF REPORTING PERSONS

 

  BROOKFIELD PRIVATE EQUITY INC.

  2  

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☒

 

  3  

  SEC USE ONLY

 

  4  

  SOURCE OF FUNDS (SEE INSTRUCTIONS)

 

  OO

  5  

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)

 

  ☐

  6  

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

  ONTARIO, CANADA

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  SOLE VOTING POWER

 

  0

     8   

  SHARED VOTING POWER

 

  12,192,406(1)

     9   

  SOLE DISPOSITIVE POWER

 

  0

   10   

  SHARED DISPOSITIVE POWER

 

  12,192,406(1)

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  12,192,406(1)

12  

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

 

  ☐

13  

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  10.1%(2)

14  

  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

 

  CO

 

(1)

Consists of common shares of the Issuer directly held by BPE OSB Investment Holding LP, Brookfield Capital II L.P. and Brookfield Private Equity Group Holdings LP, for which the reporting person may be deemed to be a beneficial owner. See Item 4(a) for more information.

(2)

Percentage ownership is based on an aggregate number of outstanding common shares of 120,882,157 as of February 1, 2021.


CUSIP No. 952845105

 

Item 1. Security and Issuer.

This statement on Schedule 13D (the “Schedule 13D”) relates to the common shares, no par value (the “Common Shares”) of West Fraser Timber Co. Ltd., a British Columbia corporation (the “Issuer”) and successor entity to Norbord Inc., a Canadian corporation (“Norbord”) acquired by the Reporting Persons named herein upon completion of the Transaction (as defined below). The Issuer’s principal executive offices are located at 601-858 Beatty Street, Vancouver, British Columbia, Canada M5C 2W4 G1.

Item 2. Identity and Background.

 

  (a)

This Schedule 13D is being filed by and on behalf of each of the following persons (each, a “Reporting Person” and collectively, the “Reporting Persons”):

 

  (i)

Brookfield Asset Management Inc. (“Brookfield”), a corporation formed under the laws of the Province of Ontario.

 

  (ii)

Brookfield Investments Corporation (“BIC”), a corporation formed under the laws of the Province of Ontario and a subsidiary of Brookfield.

 

  (iii)

Brookfield Private Equity Group Holdings LP (“BPEG”), a partnership formed under the laws of the Province of Manitoba.

 

  (iv)

BPE OSB Investment Holding LP (“BOIH”), a partnership formed under the laws of the Province of Ontario.

 

  (v)

Brookfield Capital Partners II L.P. (“BCP LP”), a partnership formed under the laws of Delaware.

 

  (vi)

Brookfield Capital Partners Ltd. (“BCP”), a corporation formed under the laws of the Province of Ontario.

 

  (vii)

Brookfield Private Equity Inc. (“BPE”), a corporation formed under the laws of the Province of Ontario.

The Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Act. The agreement among the Reporting Persons to file this Schedule 13D jointly (the “Joint Filing Agreement”) is attached hereto as Exhibit 99.1.

(b)-(c), (f) The principal business of Brookfield is alternative asset management. The principal business of BIC is of an investment company that holds investments in the real estate and forest products sectors, as well as a portfolio of preferred shares issued by the Brookfield’s subsidiaries. The principal business of BPEG is of a partnership that holds passive investment holdings. The principal business of BOIH is of a partnership that holds direct and indirect investments in assets. The principal business of BCP LP is of a private fund that holds direct and indirect investments in assets. The principal business of BCP is investment management. The principal business of BPE is of an investment holding company.

The principal business address of Brookfield, BIC, BOIH, BCP and BPE is Brookfield Place, 181 Bay Street, Suite 330, Toronto, Ontario M5J 2T3, Canada. The principal business address of BCP LP is Brookfield Place, 250 Vesey Street, 15th Floor, New York, NY 10281.

Schedules I to VII hereto set forth a list of all the directors and executive officers (the “Scheduled Persons”), and their respective principal occupations and addresses, of Brookfield, BIC, BPEG, BOIH, BCP LP, BCP and BPE.

(d)-(e) During the last five years, none of Reporting Persons and, to their respective knowledge, none of the Scheduled Persons, has been: (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which, he, she or it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Item 3. Source and Amount of Funds or Other Consideration.

The information set forth in Items 5 and 6 of this Schedule 13D is hereby incorporated by reference into this Item 3.

On or about February 1, 2021, the Reporting Persons received an aggregate of 23,481,584 Common Shares upon completion of the Transaction (as defined below) under the terms of the Arrangement Agreement (as defined below). See Item 4 below for more information.


CUSIP No. 952845105

 

Item 4. Purpose of Transaction.

The information set forth in Items 3 and 6 of this Schedule 13D is hereby incorporated by reference into this Item 4.

On November 18, 2020, the Issuer and Norbord entered into an arrangement agreement (the “Arrangement Agreement”) whereby the Issuer agreed to acquire all of the issued and outstanding common shares in the capital of Norbord (the “Norbord Shares”) in exchange for Common Shares of the Issuer (the “Transaction”). A copy of the Arrangement Agreement is filed as Exhibit 99.2 hereto. The Arrangement Agreement provided that the Transaction would be effected by way of a plan of arrangement under the Canada Business Corporations Act and was approved by the shareholders of Norbord and the Issuer. The Arrangement Agreement provided for the exchange of Norbord Shares for Common Shares in the Transaction based on an exchange ratio of 0.675 of a Common Share for each Norbord Share.

On February 1, 2021, the Issuer and Norbord completed the Transaction and the Issuer issued an aggregate of 54,484,188 Common Shares to holders of the Norbord Shares, including an aggregate of 23,481,584 Common Shares to the Reporting Persons. The Norbord Shares were suspended from trading on the New York Stock Exchange (“NYSE”) prior to the open of trading on February 1, 2021 and the Common Shares began trading on the NYSE under the ticker symbol “WFG” on February 1, 2021.

Item 5. Interest in Securities of the Issuer.

The information set forth in Items 2, 3, 4 and 6 of this Schedule 13D and the cover pages of this Schedule 13D is hereby incorporated by reference into this Item 5.

(a)-(b) The aggregate number and percentage of Common Shares of the Issuer held by the Reporting Persons to which this Schedule 13D relates is 23,481,584 Common Shares, constituting approximately 19.4% of the currently outstanding Common Shares. The percentage of Common Shares of the Issuer is based on an aggregate number of Common Shares of 120,882,157 outstanding as of February 1, 2021.

(i) Brookfield

 

  (a)

As of February 1, 2021, Brookfield may be deemed the beneficial owner of 23,481,584* Common Shares, constituting a percentage of approximately 19.4% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 23,481,584* Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 23,481,584* Common Shares

 

*

Includes 7,667,752 Common Shares held by BOIH, 3,662,902 Common Shares held by BCP LP, 11,289,178 Common Shares held by BIC and 861,752 Common Shares held by BPEG.

(ii) BIC

 

  (a)

As of February 1, 2021, BIC may be deemed the beneficial owner of 11,289,178 Common Shares, constituting a percentage of approximately 9.3% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 11,289,178 Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 11,289,178 Common Shares

(iii) BPEG

 

  (a)

As of February 1, 2021, BPEG may be deemed the beneficial owner of 861,752 Common Shares, constituting a percentage of approximately 0.7% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 861,752 Common Shares


CUSIP No. 952845105

 

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 861,752 Common Shares

(iv) BOIH

 

  (a)

As of February 1, 2021, BOIH may be deemed the beneficial owner of 7,667,752 Common Shares, constituting a percentage of approximately 6.3% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 7,667,752 Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 7,667,752 Common Shares

(v) BCP LP

 

  (a)

As of February 1, 2021, BCP LP may be deemed the beneficial owner of 3,662,902 Common Shares, constituting a percentage of approximately 3.0% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 3,662,902 Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 3,662,902 Common Shares

(vi) BCP

 

  (a)

As of February 1, 2021, BCP may be deemed the beneficial owner of 3,662,902 Common Shares, constituting a percentage of approximately 3.0% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 3,662,902 Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 3,662,902 Common Shares

 

*

Includes 3,662,902 Common Shares directly held by BCP LP.

(vii) BPE

 

  (a)

As of February 1, 2021, BPE may be deemed the beneficial owner of 12,192,406 Common Shares, constituting a percentage of approximately 10.1% of outstanding Common Shares.

 

  (b)

Sole voting power to vote or direct vote: 0 Common Shares

Shared voting power to vote or direct vote: 12,192,406 Common Shares

Sole power to dispose or direct the disposition: 0 Common Shares

Shared power to dispose or direct the disposition: 12,192,406 Common Shares

 

*

Includes 7,667,752 Common Shares held by BOIH, 3,662,902 Common Shares held by BCP LP and 861,752 Common Shares held by BPEG.

 

  (c)

Other than the transactions described in Items 3 and 6 herein, there have been no transactions by the Reporting Persons in the Common Shares during the past 60 days.

 

  (d)

Not applicable.

 

  (e)

Not applicable.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

The information set forth in Items 3, 4 and 5 hereof is hereby incorporated by reference into this Item 6.


CUSIP No. 952845105

 

Voting and Support Agreement

On November 18, 2020, the Reporting Persons, Norbord and West Fraser entered into a voting and support agreement (the “Voting and Support Agreement”), whereby the Reporting Persons, as the owner and having the power to control or direct the Norbord Shares, agreed to (i) vote or cause to be voted the Norbord Shares in favor of the Transaction and any other matter necessary for the completion of the Transaction, (ii) support West Fraser following the completion of the Transaction, (iii) attend the 2021 annual general meeting of the shareholders of West Fraser and vote all the Common Shares held by Brookfield in favor of management recommendations (the “post-Transaction obligations”); and (iv) abide by certain restrictions and covenants set forth thereto. The Voting And Support Agreement terminated in accordance with its terms upon the completion of the Transaction except in regards to the post-Transaction obligations. A copy of the Voting and Support Agreement is filed as Exhibit 99.3 hereto.

Cash-Settled Swaps

As part of Brookfield’s general hedging strategy, within the past 60 days Brookfield has entered into cash-settled total return swaps in respect of the Common Shares with an unaffiliated third party financial institution as the respective counterparty (the “Cash-Settled Swaps”), which represent a hedged position in respect of approximately 5,156,885 Common Shares (representing approximately 4.3% of the issued and outstanding Common Shares). Taking into consideration the Cash-Settled Swaps, Brookfield has economic exposure in respect of approximately 18,324,699 Common Shares (representing approximately 15.2% of the issued and outstanding Common Shares). Taking into consideration the Cash-Settled Swaps, Brookfield has economic exposure in respect of approximately 18,324,699 Common Shares (representing approximately 15.2% of the issued and outstanding Common Shares). The Cash-Settled Swaps were entered into at an average price of US$62.8850 per underlying Common Share. Funds for the purchase of the Cash-Settled Swaps were derived from the general working capital of Brookfield.

Under the terms of each Cash-Settled Swap, upon settlement, Brookfield will be obligated to make payments to the counterparty based on the total net return of the specified notional number of shares subject to the Cash-Settled Swaps. The Cash-Settled Swaps do not give any Reporting Person direct or indirect voting, investment or dispositive control over any securities of the Issuer and do not require the counterparty thereto to acquire, hold, vote or dispose of any securities of the Issuer.

Except as described herein, the Reporting Persons have no contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer.

Item 7. Materials to Be Filed as Exhibits.

Exhibit 99.1 – Joint Filing Agreement

Exhibit 99.2 – Arrangement Agreement, between Norbord Inc. and West Fraser Timber Co. Ltd, dated November 18, 2020 – filed as Exhibit 99.2 to Norbord Inc.’s Form 6-K on November 27, 2020, and incorporated herein by reference.

Exhibit 99.3 – Voting and Support Agreement, between Norbord Inc. Brookfield Asset Management Inc., the Brookfield Affiliates and West Fraser Timber Co. Ltd., dated November 18, 2020 – filed as Exhibit 99.1 to Norbord Inc.’s Form 6-K on November 23, 2020, and incorporated herein by reference.


CUSIP No. 952845105

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

February 2, 2021     BROOKFIELD ASSET MANAGEMENT INC.
    By:  

/s/ Kathy Sarpash

      Name: Kathy Sarpash
      Title: Senior Vice President
    BROOKFIELD INVESTMENTS CORPORATION
    By:  

/s/ Thomas Corbett

      Name: Thomas Corbett
      Title: Vice President and Chief Financial Officer
    BROOKFIELD PRIVATE EQUITY GROUP HOLDINGS LP, by its general partner, BROOKFIELD PRIVATE EQUITY INC.
    By:  

/s/ A.J. Silber

      Name: A.J. Silber
      Title: Director
    BPE OSB INVESTMENT HOLDING LP, by its general partner, BROOKFIELD PRIVATE EQUITY INC.
    By:  

/s/ A.J. Silber

      Name: A.J. Silber
      Title: Director
    BROOKFIELD CAPITAL PARTNERS II L.P., by its general partner, BROOKFIELD CAPITAL PARTNERS II GP L.P., by its general partner, BROOKFIELD CAPITAL PARTNERS LTD.
    By:  

/s/ A.J. Silber

      Name: A.J. Silber
      Title: Chairman of the Board
    BROOKFIELD CAPITAL PARTNERS LTD
    By:  

/s/ A.J. Silber

      Name: A.J. Silber
      Title: Chairman of the Board
      BROOKFIELD PRIVATE EQUITY INC.
    By:  

/s/ A.J. Silber

      Name: A.J. Silber
      Title: Director


CUSIP No. 952845105

 

SCHEDULE I

BROOKFIELD ASSET MANAGEMENT INC.

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation

or Employment

  

Citizenship

M. Elyse Allan

Director

  

181 Bay Street, Suite 300

Toronto, Ontario

M5J 2T3, Canada

   Corporate Director    Canada and U.S.A.

Justin B. Beber

Managing Partner, Head of Corporate Strategy and Chief Legal Officer

  

181 Bay Street, Suite 300

Toronto, Ontario

M5J 2T3, Canada

   Managing Partner, Head of Corporate Strategy & Chief Legal Officer, Brookfield    Canada

Jeffrey M. Blidner

Vice Chair and Director

  

181 Bay Street, Suite 300

Toronto, Ontario

M5J 2T3, Canada

   Vice Chair, Brookfield    Canada

Angela F. Braly

Director

  

832 Alverna Drive

Indianapolis, Indiana 46260

U.S.A.

   Corporate Director    U.S.A.

Jack L. Cockwell

Director

  

51 Yonge Street, Suite 400

Toronto, Ontario

M5E 1J1, Canada

   Chair of Brookfield Partners Foundation    Canada

Marcel R. Coutu

Director

  

c/o Suite 1210

225 – 6th Ave. S.W.

Calgary, Alberta

T2P 1N2, Canada

   Corporate Director    Canada

Maureen Kempston Darkes

Director

   10 Avoca Avenue, Unit 1904, Toronto, Ontario M4T 2B7, Canada    Corporate Director    Canada

Janice Fukakusa

Director

  

181 Bay Street, Suite 300

Toronto, Ontario M5J 2T3, Canada

   Corporate Director    Canada

Murilo Ferreira

Director

  

Rua General

Venancio Flores, 50 Cob. 01

Leblon, Rio de Janeiro

RJ 22441-090

   Former Chief Executive Officer, Vale SA    Brazil

J. Bruce Flatt

Director and Managing Partner and Chief Executive Officer

   One Canada Square, Level 25 Canary Wharf, London E14 5AA U.K.    Managing Partner and Chief Executive Officer, Brookfield    Canada

Nicholas H. Goodman

Managing Partner and Chief Financial Officer

  

181 Bay Street, Suite 300

Toronto, Ontario

M5J 2T3, Canada

   Managing Partner and Chief Financial Officer, Brookfield    United Kingdom

Brian W. Kingston

Managing Partner, Chief Executive Officer Real Estate

   250 Vesey Street, 15th Floor, New York, NY 10281-1023, U.S.A.    Managing Partner, Chief Executive Officer Real Estate, Brookfield    Canada

Brian D. Lawson

Vice Chair and Honorary Director

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Vice Chair, Brookfield    Canada


CUSIP No. 952845105

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation

or Employment

  

Citizenship

Cyrus Madon

Managing Partner, Chief Executive Officer Private Equity

   181 Bay Street, Suite300, Toronto, Ontario M5J 2T3, Canada    Managing Partner, Chief Executive Officer of Private Equity, Brookfield    Canada

Howard S. Marks

Director

  

c/o Oaktree Capital Management, L.P.

333 S. Grand Avenue, 28th Floor, Los Angeles, CA 90071, U.S.A.

   Co-Chairman, Oaktree Capital Management    U.S.A.

Frank J. McKenna

Director

  

TDCT Tower

161 Bay Street, 35th Floor

Toronto, Ontario

M5J 2T2, Canada

   Chair of Brookfield and Deputy Chair of TD Bank Group, Wholesale    Canada

Rafael Miranda

Director

   C/Santiago de Compostela 100 28035 Madrid, Spain    Corporate Director    Spain

Craig Noble

Managing Partner, Chief Executive Officer Alternative Investments

  

181 Bay Street, Suite 300

Toronto, Ontario

M5J 2T3, Canada

   Managing Partner, Chief Executive Officer Alternative Investments, Brookfield    Canada

Lord Augustine Thomas O’Donnell

Director

  

Frontier Economics, 71 High Holborn, London U.K.

WC1V 6DA

   Chairman of Frontier Economics Limited    United Kingdom

Lori Pearson

Managing Partner and Chief Operating Officer

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Managing Partner and Chief Operating Officer, Brookfield    Canada

Samuel J.B. Pollock

Managing Partner, Chief Executive Officer Infrastructure

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Managing Partner, Chief Executive Officer Infrastructure, Brookfield    Canada

Ngee Huat Seek

Director

   501 Orchard Road, #08 — 01 Wheelock Place, Singapore 238880    Chairman, Global Logistic Properties    Singapore

Sachin G. Shah

Managing Partner, Chief Investment Officer

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Managing Partner, Chief Investment Officer, Brookfield    Canada

Diana L. Taylor

Director

   c/o Bloomberg, Philanthropies, 25 East 78th Street, New York, N.Y. 10075    Corporate Director    U.S.A. and Canada

Hutham S. Olayan

Director

   133 East 64th Street, Apt. 5A, New York, NY 10065, U.S.A.    Chairman of The Olayan Group    U.S.A. and Saudi Arabia

Connor Teskey

Managing Partner, Chief Executive Officer Renewable Power

   One Canada Square, Level 25, Canary Wharf, London, UK E14 5AA    Managing Partner, Chief Executive Officer Renewable Power, Brookfield    Canada


CUSIP No. 952845105

 

SCHEDULE II

BROOKFIELD INVESTMENTS CORPORATION

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation or
Employment

 

Citizenship

Thomas Corbett

Vice President and Chief Financial Officer

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Managing Director, Finance, Brookfield   Canada

Lorretta M. Corso

Vice President and Secretary

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Administrator and Corporate Secretary, Brookfield   Canada

Howard Driman

Director

   17 Lindemann Street, Thornhill, Ontario L3T 5S8    Corporate Director   Canada

Frank N.C. Lochan

Director

   15 Ennisclare Dr. E., Oakville, Ontario L6J 4N3    Corporate Director   Canada

Edward C. Kress

Director, Chairman and President

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Corporate Director   Canada

Danesh K. Varma

Director

   8 Little Trinity Lane, London EC4V 2AN United Kingdom    Corporate Director   United Kingdom

Leslie Yuen

Vice President and Controller

   181 Bay Street, Suite 300, Toronto, Ontario M5J 2T3, Canada    Vice President, Brookfield   Canada

SCHEDULE III

BROOKFIELD PRIVATE EQUITY GROUP HOLDINGS LP

by its general partner, BROOKFIELD PRIVATE EQUITY INC.

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation or
Employment

 

Citizenship

Jaspreet Dehl

Director, Managing Partner, Secretary

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Financial Officer of Brookfield Business Partners L.P.   Canada

David Grosman

Director, Managing Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director   Canada

Arin Jonathan Silber

Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President   Canada

Cyrus Madon

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Executive Officer of Brookfield Business Partners L.P.   Canada


CUSIP No. 952845105

 

Name and Position of Officer or Director

 

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

Anjali Mahtani

Vice President

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

David Nowak

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Ryan Szainwald

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

SCHEDULE IV

BPE OSB INVESTMENT HOLDINGS LP

by its general partner, BROOKFIELD PRIVATE EQUITY INC.

 

Name and Position of Officer or Director

 

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

Jaspreet Dehl

Director, Managing Partner, Secretary

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Financial Officer of Brookfield Business Partners L.P.    Canada

David Grosman

Director, Managing Director

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Arin Jonathan Silber

Director

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

Cyrus Madon

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Executive Officer of Brookfield Business Partners L.P.    Canada

Anjali Mahtani

Vice President

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President   

Canada

SCHEDULE V

BROOKFIELD CAPITAL PARTNERS II L.P.

by its general partner, BROOKFIELD CAPITAL PARTNERS II GP L.P.

by its general partner, BROOKFIELD CAPITAL PARTNERS LTD.

 

Name and Position of Officer or Director

 

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

Jaspreet Dehl

Director, Managing Partner, Secretary

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Financial Officer of Brookfield Business Partners L.P.    Canada


CUSIP No. 952845105

 

Name and Position of Officer or Director

 

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

David Grosman

Director, Managing Director

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Arin Jonathan Silber

Director

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

Bryan Jason Chew

Senior Vice President

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Senior Vice President    Canada

Nicole Lichowit

Managing Director

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Cyrus Madon

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Executive Officer of Brookfield Business Partners L.P.    Canada

Anjali Mahtani

Vice President

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

David Nowak

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Erson Olivan

Senior Vice President

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Senior Vice President    Canada

James Reid

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Ryan Szainwald

Managing Partner

  181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada


CUSIP No. 952845105

 

SCHEDULE VI

BROOKFIELD CAPITAL PARTNERS LTD.

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

Jaspreet Dehl

Director, Managing Partner, Secretary

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Financial Officer of Brookfield Business Partners L.P.    Canada

David Grosman

Director, Managing Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Arin Jonathan Silber

Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

Bryan Jason Chew

Senior Vice President

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Senior Vice President    Canada

Nicole Lichowit

Managing Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Cyrus Madon

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Executive Officer of Brookfield Business Partners L.P.    Canada

Anjali Mahtani

Vice President

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

David Nowak

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Erson Olivan

Senior Vice President

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Senior Vice President    Canada

James Reid

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Ryan Szainwald

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada


CUSIP No. 952845105

 

SCHEDULE VII

BROOKFIELD PRIVATE EQUITY INC.

 

Name and Position of Officer or Director

  

Principal Business Address

  

Principal Occupation or Employment

  

Citizenship

Jaspreet Dehl

Director, Managing Partner, Secretary

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Financial Officer of Brookfield Business Partners L.P.    Canada

David Grosman

Director, Managing Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Director    Canada

Arin Jonathan Silber

Director

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

Cyrus Madon

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner and Chief Executive Officer of Brookfield Business Partners L.P.    Canada

Anjali Mahtani

Vice President

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Vice President    Canada

David Nowak

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada

Ryan Szainwald

Managing Partner

   181 Bay Street, Brookfield Place, Suite 300, Toronto, ON M5J 2T3    Managing Partner    Canada