Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Brazilian court suspends transfer of pulpmaker Eldorado to Paper Excellence
SAO PAULO (From news reports) -- A Brazilian court suspended on Sunday the transfer of control of pulpmaker Eldorado Brasil Celulose SA to Netherlands-based Paper Excellence, Eldorado said in a securities filing.

Paper Excellence, owned by Indonesian billionaire Jackson Widjaja, last month won arbitration proceedings against the current majority owner of the pulpmaker, Brazilian holding company J&F Investimentos, to complete its acquisition of Eldorado.

Following the arbitration ruling, J&F Investimentos SA, owned by Brazilian billionaire brothers Wesley and Joesley Batista, filed for an injunction to cancel the decision.

Paper Excellence already has a 49% stake in Eldorado and had sought the arbitration to be allowed to acquire the remaining stake, as determined by a 2017 sale contract.

Readers, please tell your suppliers that you read Paperitalo Publications


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: