Announcements
March 13, 2008

Aldabra 2 Acquisition Corp. Completes Acquisition of Boise Paper and Packaging Assets

Kramer Levin client Aldabra 2 Acquisition Corp. on February 22, 2008 announced that it had completed its acquisition of Boise Cascade LLC’s packaging and paper manufacturing businesses for approximately $1.678 billion. The transaction was approved by the shareholders of Aldabra on February 5, 2008. In conjunction with the completion of the transaction, Aldabra changed its name to Boise Inc. and, as of February 25, 2008, its common stock and warrants began trading on the New York Stock Exchange under the new symbols BZ and BZ.WS, respectively.

Simultaneously with the acquisition, Boise Inc. entered into debt financing arrangements for a total of approximately $1.236 billion, a portion of which was used to finance the acquisition. Goldman Sachs Credit Partners LP and Lehman Brothers Inc. acted as joint lead arrangers and joint bookrunners for the arrangements.

Headquartered in Boise, Idaho, Boise Inc. manufactures a wide range of premium and specialty products, including papers for pressure sensitive and flexible packaging applications, containerboard and corrugated products, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp. Boise has approximately 4,700 employees.

The deal was noted in Corporate Counsel Alert’s Top Ten Deals list on September 24 as one of the top five deals for September 2007.

The Kramer Levin team that represented Aldabra included team leaders: Philip Weingold, Thomas Balliett and Randal Murdock. Other Kramer Levin attorneys on the deal included: Corporate/Finance Attorneys - Christopher Auguste, Kenneth Chin, Peter Smith, Aviva Grossman, Sally Swift, Chatchada Chiamprasert, Alyssa Katz, Debbie Lee, David Levine, Adam Price, Becky Porath, Mae Rogers and Tonya Smith; Real Estate Attorneys - Jay Godman, Michael Fein, Scott Schneider and Elizabeth Stein; IP Attorneys - Kevin Moss, Jean-Paul Ciardullo and Leslie Nguyen; Environmental Attorneys - Chuck Warren, Karen Mintzer and Kerri Folb; Antitrust Attorney - Robert Heller; Tax Attorneys - Melissa Blades and Blake Rigel; Employment Law and Benefits Attorneys - Christine Lutgens, Avram Cahn, Izabel McDonald and Mary Flaherty.

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