Paper Excellence announces Eldorado’s acquisition to be concluded by Aug. 10
SAO PAULO, July 17, 2018 (RISI) -Paper Excellence (PE) has announced that it will conclude the purchase of Brazilian pulp producer Eldorado’s shares that belong to J&F Investments by Aug. 10. PE detailed that it will pay for the remaining 50.59% shares of Eldorado in the beginning of August, thus assuming 100% of the company’s control.
PE, which is owned by the Widjaja family, the owners of Asia Pulp & Paper (APP), closed a deal with J&F Investments on Sept. 2, 2017 to buy Eldorado for an estimated value of Real 15.8 billion (around $5 billion).
In a first phase, PE paid Real 3.8 billion ...