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 ...