© Reuters.
SAO PAULO (Reuters) – Brazilian pulp and paper firm Suzano has acquired sure forestry belongings from two particular function companies managed by BTG Pactual Timberland Funding Group, in accordance with a securities submitting.
The deal was valued at 1.826 billion reais ($375.7 million) and requires regulatory approval, Suzano stated within the submitting made late on Saturday.
The goal corporations personal roughly 70,000 hectares of land within the state of Mato Grosso do Sul, in a area the place Suzano already has operations. Some 50,000 hectares of the acquired land is taken into account “usable,” Suzano stated, including that the realm is planted with eucalyptus timber of various ages.
Suzano can pay the agreed worth in money on the deal’s cut-off date in 2024. The quantity will probably be transformed into {dollars} if the transaction closes after March 31, it added.
The acquisition value could also be adjusted to mirror the situation of the focused belongings on the cut-off date, as is customary in the sort of operation, Suzano stated.
($1 = 4.8605 reais)