Suzano Closes Deal for 45,000 Hectares of Eucalyptus Plantations in Brazil
The purchased assets include 45,000 hectares of eucalyptus forests.
Aug. 11, 2014 - Suzano Papel E Celulose S.A. (“Suzano”) said that it has closed the deal for the acquisition of all the shares of Vale Florestar Fundo de Investimento em Participações (“Fundo Vale Florestar”).
Through a subsidiary, Suzano purchased all of the shares of Fundo Vale Florestar for R$528,940,906.15.
The deal included a down payment of R$44,998,137.31, which was made on the settlement date (8/8/2014) and the balance to be paid in annual and successive installments of ten to fifteen years, with the first of those installments payable one year after the settlement date.
The purchased assets include 45,000 hectares of eucalyptus forests planted in leased areas in the state of Pará (northern Brazil), which Suzano will use as a wood supply wood for its Maranhão pulp mill.
In a press release Suzano said, “The transaction is in line with Suzano's strategy of pursuing structural competitiveness in order to maximize business profitability, the main benefits of which are increased harvest flexibility, forest management by Suzano and long-term payment.”
SOURCE: Suzano Papel E Celulose S.A.