Ibema has acquired a paper plant from Suzano Papel e Celulose
São Paulo, Reuters.
CADE approves sale of cardboard paper plant of Suzano to Ibema
The Administrative Council for Economic Defense (Cade) approved, without restrictions, the sale of part of Suzano Papel e Celulose plant in Embu (SP) for Ibema Companhia Brasileira de Papel.
The approval was published on Monday in the Diário Oficial da União (DOU).
The operation will involve the sale of the Embu Unit of Suzano to Ibema and a subsequent purchase by the company of a 49.9% stake in the enterprise called Nova Ibema through a capital contribution of R$8 million. Therefore, Suzano becomes Ibemapar’s partner in Nova Ibema. Since Nova Ibema also owns a paperboard plant in Turvo, Suzano will have stakes in the both plants.
The combined production capacity will be 140,000 tons of paperboard per year. The deal was announced by Suzano in March this year.
The agreement excludes power generation and forestry assets owned by Ibema, they will be removed from this company and transferred to other companies controlled by Ibemapar.
In the document, Cade pointed out that Ibema does not produce cellulose and will have Suzano as a supplier of raw material.
The financial details of the deal were not disclosed by the Administrative Council for Economic Defense (Cade).
(By Priscila Jordão)