Nip Impressions logo
Tue, Mar 19, 2024 01:59
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Fibria eyes bid for Eldorado Brasil

BRAZIL (From news reports) -- Brazil's Fibria SA, the world's No. 1 eucalyptus pulpmaker, is considering a bid for rival Eldorado Brasil Celulose SA, it said in a securities filing.

Fibria said it had not yet signed any purchase agreement as it keeps looking for opportunities to grow and preserve its market leadership.

J&F Investimentos SA, controlled by the billionaire Batista family, owns 81 percent of Eldorado. The company is among the flagship assets that J&F put up for sale after agreeing to pay a record-setting 10.3 billion real ($3.2 billion) fine for its role in corruption scandals that threaten to topple Brazil President Michel Temer.

The remaining 19 percent is owned by Brazilian pension funds Petros Fundação and Funcef Fundação dos Economiarios , and special purpose vehicle FIP Olímpia.

Other possible bidders for Eldorado include Arauco, a unit of Chile's Empresas Copec SA, which announced interest in a securities filing on Friday. Brazilian rival Suzano Papel & Celulose SA is also considering a bid.

****

Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: