Jan 11, 2011. Fibria struck an asset sale deal of its subsidiary company, Consórcio Paulista de Papel e Celulose (Conpacel), and paper distributor KSR with Suzano Papel and Celulose. Completion of the deal for sale of Conpacel’s assets will occur by January 31st, 2011 and the sale of KSR’s assets by February 28.
Fibria announces sale of Conpacel and KSR to Suzano
Jan 11, 2011. /Lesprom Network/. Fibria struck an asset sale deal of its subsidiary company, Consórcio Paulista de Papel e Celulose (Conpacel), and paper distributor KSR with Suzano Papel and Celulose. The deal provides that Suzano will pay R$1.45 billion ($866 million) for the acquisition of 50% of Conpacel’s assets from Fibria, which includes the mill with a 650 thousand tons of pulp capacity a year, 390 thousand tons of paper and Conpacel’s forestry area, as Fibria said in a press release received by Lesprom Network.
The deal also envisages payment of R$50 million ($30 million) for the acquisition of KSR. Completion of the deal for sale of Conpacel’s assets will occur by January 31st, 2011 and the sale of KSR’s assets by February 28. The deal is subject to approval by Brazilian authorities.
