Klabin eyes share offering to incorporate Sogemar to its business - Global Paper Money

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Klabin eyes share offering to incorporate Sogemar to its business

SAO PAULO (From news reports) - Brazilian pulpmaker Klabin SA said on Wednesday it is planning a 367 million-real ($70.98 million) share offering in favor of Sogemar - Sociedade Geral de Marcas Ltda - shareholders to incorporate the company to its business.

Klabin currently pays royalties for the right to explore six brands owned by Sogemar. The transaction still needs to be approved by the pulpmaker's shareholders in an assembly not yet scheduled.

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