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CMPC to acquire pulp, paper and sack businesses of Iguaçu Celulose, Papel S.A for $170 million

BRAZIL (News release) -- CMPC says it will purchase the forest and industrial assets of the pulp, paper and sack businesses of Iguaçu Celulose, Papel S.A., located in the States of Paraná and Santa Catarina of Brazil.

The transaction includes three production units with annual aggregate manufacturing capacities of 105 thousand tons of pulp, 120 thousand tons of sack-kraft paper, 21 thousand tons of special papers and conversion lines that can produce 500 million units of paper sacks per year. Also the deal includes forest assets for approximately 1.9 million m3.

The agreed value for the transaction is 945.7 million Reais ($170.9 million). This amount considers the price which will be paid to the sellers and the payment of the current existing debt. The closing of the transaction is expected to take place within the next 90 days, after an authorization from the Administrative Council for Economic Defense (Conselho Administrativo de Defesa Económica), according to Brazilian law.

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