Chinese State enters the race for Eldorado Brazil

The State-owned China Paper is interested in Eldorado, J&F pulp company, a holding of the brothers Joesley and Wesley Batista. The Chinese signaled to be willing to pay almost R $16 billion per 100% of the company.
The value exceeded more than R $15 billion offered by rival Indonesia APP (Asia Pulp and Paper Group). The negotiation with the APP is more advanced, but the Chinese have been very aggressive.
Sought, the J&F did not comment.
The Baptist had to get rid of part of your Empire to reduce distrust of banks, once admitted, in a deal of snitch, pay bribes to politicians.
People accompanying the negotiations claim that Asians want to seize the opportunity and use the Eldorado as a platform to produce pulp in Brazil, one of the countries with the lowest production costs in the world.
Chile's Arauco had an exclusive deal with the J&F after $14 billion by Eldorado R offer. But the deal has not been completed within, which opened space for the arrival of other proposals.
Among the national players, Fibria has an interest in the business, because it also has factory in Três Lagoas (MS). The company, however, is not prepared to pay the same as Asians.
Fibria bet that values will drop after that APP and the China Paper made a "due diligence" from Eldorado, because the company would have legal and accounting backlog.
China Paper hired HSBC to advise on the deal. The APP is with BTG, Arauco, with Santander, and Fibria, with Morgan Stanley. The Baptist lead the negotiations without financial advisors. The own Joesley talks with stakeholders.
People close to the family say that the J&F is not in a hurry to pass the Eldorado, as breathtaking financial with other sales won.
Has already been sold to Sneakers, manufacturer of Flip-flops, R $3.5 billion to the families of ITA controllers. Lala (Mexico) took effect by R $5.7 billion.
JBS, flagship of the Baptist's business, sold its beef operations in Argentina, in Uruguay and Paraguay to the Minerva for $ $300 million. The fridge also renegotiated its short-term debts.
With R $7.5 billion of debt, the Eldorado can yield more than R $6 billion for Batista, who have 80% share. Petros funds and Funcef are also partners.
The J&F does not disclose the total debt of the group, but before those operations got some R $70 billion. In addition, the holding company has agreed to pay a fine of Rs $10.3 billion to the authorities.