Globe And Mail – Sino-Forest Corp.’s largest shareholder, the investment firm headed by billionaire U.S. hedge fund manager John Paulson, has bailed out, selling its entire position in the embattled forestry company.
Mr. Paulson and his firm, Paulson & Co., best known for prescient calls on the global financial crisis and the price of gold, controlled 14 per cent of Sino-Forest’s stock or about 34.7 million shares until recently. Paulson & Co. sold all of those shares by last Friday, according to a filing late yesterday with Canadian securities regulators.
