APP associated firm Paper Excellence buys Brazilian pulp giant Eldorado

COLOGNE, Germany, Sept. 28, 2017 (PPI Asia) -Paper Excellence, a group of companies with pulp mill properties in Canada and Europe associated with Asia Pulp & Paper (APP) and Indonesia’s Widjaja family, is taking over Brazilian pulp giant Eldorado.

The deal is worth around Real 15 billion, and is expected to close within a year.

It will see Paper Excellence get a massive bleached eucalyptus pulp mill in Três Lagoas, Mato Grosso do Sul, in south-central Brazil.

The five-year-old pulp line there can make almost 1.9 million tonnes/yr of the hardwood grade.

The deal follows a series of travails for Eldorado.

Its owner Joesley Batista ...

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