Fibria Closes Sale of Forest Assets in Brazil

Fibria, Brazil, this week reported that it has closed on the sale of its forest and land assets in Bahia State, Brazil, for a total price of R$235 million. The assets include some 16,100 hectares of eucalyptus plantations.

Caravelas Florestal S.A., controlled by Fundo Florestas do Brasil FIP, made a closure payment of R$200 million to Fibria, and will pay the remaining R$35 million this November 14, after completing due diligence.

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