Pension fund Funcef sells stake in Eldorado; Petros still studies deal with PE
SAO PAULO, Oct. 10, 2017 (PPI Latin America) -Brazilian pension fund Funcef decided to sell its 8.53% stake in Brazilian bleached eucalyptus kraft (BEK) pulp producer Eldorado to Paper Excellence (PE). The pulp producer's controller J&F Investments negotiated with PE the sale of up to 100% of Eldorado's shares for Real 15 billion ($4.7 billion).
J&F on Sept. 25 transferred a 13% share in Eldorado to PE's subsidiary CA Investment for Real 1 billion.
Funcef and Petros funds each have an 8.53% stake in Eldorado, while FIP Olímpia investment fund has 1.96%.
Petros hasn't disclosed yet if it will sell its investment in ...