Fibria to Sell Conpacel, KSR Assets to Suzano
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Fibria Celulose S.A., Sao Paulo, Brazil, reports that it has agreed to sell its stake in the consortium Consórcio Paulista de Papel e Celulose (Conpacel), headquartered in Limeira, State of São Paulo, to Suzano Papel E Celulose S.A., also of Brazil. The deal provides that Suzano will pay R$1.45 billion for the acquisition of 50% of Conpacel's assets from Fibria, which includes the mill with a 650,000 metric tpy pulp capacity, 390,000 metric tpy of paper capacity, and Conpacel's forestry area (76,000 hectares and around 71,000 hectares of plantation, of which 53,000 hectares are owned and 18,000 hectares are leased). The deal also envisages payment of R$50 million for the acquisition of Fibria's KSR paper distribution operation. Completion of the sale of Conpacel's assets will occur by January 31 and the KSR assets by February 28.
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