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Sun, Feb 18, 2018 01:34
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Suzano to buy controlling stake in Facepa

RIO DE JANEIRO (From news reports) -- Brazil's Suzano Papel e Celulos closed a deal to acquire a majority stake in Amazonian paper producer Facepa for 310 million reais ($95 million), the wood pulp and paper maker said on Monday in a securities filing.

Suzano said it had agreed to buy 92.84 percent of total shares and 99.99 percent of common shares in the company, which manufactures paper towels, napkins, diapers and tissue in mills in Belem and Fortaleza with total capacity of 50,000 tonnes per year.

The price is subject to adjustments, Suzano said in the filing.

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