Fibria Completes Sale of Forest Assets in Bahia State, Brazil

July 2, 2012 - Fibria said that on June 29 it closed the sale of forest assets and land located in southern Bahia State, Brazil, consisting of a total of approximately 16.1 thousand hectares of eucalyptus forest, for a total sale price of R$235 million.

The buyer, Caravelas Florestal S.A., controlled by Fundo Florestas do Brasil FIP, finalized the deal with the payment of R$ 200 million to Fibria.

Fibria expects payment of the outstanding balance — R$ 35 million — on November 14, 2012, after the completion of due diligence by the purchaser.

SOURCE: Fibria