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Brasilia, 03 – The process that occupies the spindle between Suzano and Fibria is already in the Administrative Council of Economic Development (Cade). The companies notified the antitrust authority on the transaction on Monday 2, according to a statement published in the Official Journal of the Union (DOU).
The document informs that the case between Suzano and his biggest rival, Fibria, leader in pulp and pulp, eucalyptus cultivation, wood extraction in planted forests, paper making and management of the port infrastructure.
Suzano announced the agreement to acquire control of Fibria to maro. By the transaction, to be created a giant of the sector, with a production of 11 million tons. The deal provides for an exchange of shares and the payment of Rs 29 billion by Suzano to Fibria shareholders. As a result, Suzano took control of the new company to create, with a 46.4% share.
Last week, Suzano's board of directors approved the issuance of debentures in the amount of 4.681 billion reais,
The net proceeds will be fully used to pay the party in cash from the acquisition of all the ordinary shares of Fibria. In a material fact sent to the GVC, the company specified that the debentures will have an eight-year term and a remuneration of 112.50% of the CDI.
Suzano also informed that the realization of the agreement is still subject to compliance other usual conditions prior to this type of operation, including the approval by some authorities of the competition in Brazil and abroad. "From the date of completion of the transaction, the companies will not undergo any change in the conduct of their business and will continue to operate independently," said the company.
(Luci Ribeiro)
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