Suzano Papel e Celulose can buy forests of Duratex for about $750 million R

Contrary to what had been expected, Suzano Papel e Celulose may exercise the option to purchase, by R $750 million, 20000 hectares of eucalyptus of Duratex, which occurs in this Monday (July 2). With the strengthening of the resulting box of high-dollar, Suzano has financial comfort to move forward with this operation at the same time that advances in the billion-dollar purchase of Fibria. Additional forests ensure to Suzano raw material required for a potential future expansion in the State of São Paulo, in evaluating a source heard by the Value. Sought, Duratex reported that cannot make any comment before the expiration of the option. Suzano has not yet ruled on the matter. In February, the Duratex announced the sale of nearly 30000 hectares of land and forests for the Suzano for about R $1.05 billion. On occasion, 9500 hectares were sold by $308.1 million. Compliance with the second stage of the operation — the purchase of over 20000 hectares by R $749.4 million — was coupled to the exercise of the option. Initially, the Suzano had interest in additional wood to fuel an expansion of Qualifying. The company has advanced in the purchase process of cellulose-producing the Lwart group, but it left after pick up conversations that resulted in the combination of assets with Fibria. After this deal, sources close to the negotiations between Suzano and Duratex came to consider that the option would not be exercised, but the strong cash generation of pulp and paper production this year has made interesting operation again.