Suzano to Acquire Controlling Stake in Facepa Tissue
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Suzano Papel e Celulos, Brazil, has closed a deal to acquire a majority stake in Amazonian paper factory Facepa for 310 million reais ($95 million), the wood pulp and paper maker said on Monday in a securities filing, according to a Reuters news report this week.
Suzano said it had agreed to buy 92.84% of total shares and 99.99% of common shares in the company, which manufactures paper towels, napkins, diapers, and tissue in factories in Belem and Fortaleza with a total capacity of 50,000 metric tpy.
The price is subject to adjustments, Suzano said in the filing.
