By Rogerio Jelmayer
SAO PAULO--Brazilian pulp-and-paper company Suzano Papel e
Celulose SA (SUZB5.BR) will acquire certain forest assets from
investors including mining company Vale SA (VALE, VALE3.BR) for a
total of 529 million Brazilian reais ($233 million).
Suzano will acquire the forest assets from a fund called Vale
Florestar Fundo de Investimento em Participacoes. Vale controls the
fund, which also is made up of the private-equity arm of National
Development Bank, BNDESPar, and pension funds Funcef and
Petros.
Vale will receive BRL205 million from the sale, the company said
in a separate statement. It didn't unveil the exact amount to be
received from other shareholders.
"The assets owned by Fundo Vale Florestar comprise 45,000
hectares of eucalyptus forests planted in leased areas in the state
of Para (Brazil's northern state). The forestry assets were
acquired to supply wood to the Maranhao Unit," Suzano said.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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