Arauco and J&F still have no agreement on sale of Eldorado

Chile''s Arauco and J&F Investments, the brothers Joesley and Wesley Batista, I haven''t closed a deal to purchase from Eldorado Brazil. According to sources, the negotiations continue, but without exclusivity, since the agreement, signed in the day June 16, was finalized on Friday (4).
Another source said that the impasse is the price offered by Arauco.
The expectation now revolves around the brazilian Company, which may submit a proposal to the end of exclusivity. "We follow with interest, but we haven''t made a proposal. We respect the period of exclusivity, "said the President of Fibria, Marcelo Castelli, in a teleconference with the press on the day July 25. That day, he emphasized that the company possessed the greater synergy, both in forest, industry, logistics, supply, finance and staff. "We are monitoring whether the proposal of the Arauco will be converted. The decision of this chess game is in the hands of the shareholders of Eldorado ", said Castelli.
Fibria has as partners the Votorantim Group and the Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and, as well as Eldorado, has industrial complex in the municipality of Três Lagoas (MS).
Sources had previously commented that a deadlock would occur on the value, in addition to extra details in the contract, mainly because the Baptist brothers signed an agreement of leniency with prosecutors and his own Eldorado is investigated in Sepsis, Greenfield and pavement.