Indonesian company APP is near buy Eldorado

The Indonesian company Asia Pulp & Paper (APP) is in advanced negotiations to close the purchase of brazilian Eldorado cellulose, controlled by the J&F, the brothers Wesley and Joesley Batista. According to sources close to the transaction, the acquisition of control of the company should be announced in the coming days by some R $15 billion.
Half of this amount should go to J&F box, which holds an 80 percent stake in Eldorado. The other half would be used to pay the company''s debts, which revolve around R $8 billion.
In a statement, J&F said he would not comment the negotiations and reiterated "that processes follow usual procedures for operations of this nature."
In addition to the proposal from the Indonesian company, which is being advised by banco BTG, the Eldorado received other offers. The column reported in yesterday''s Edition Broadcast, Fibria, largest in the industry, would be willing to pay up to $ $12 billion for the asset. Chile''s Arauco, who came to negotiate exclusively with the Eldorado, offered $14 billion by the company, R value fell to R $11.5 billion after the company accounts auditing. One of the factors that currently infects the Eldorado is the fact that tax credits such as ICMS, being accounted for as cash generation.
The Eldorado also has pension funds Funcef (box) and Petros (Petrobras) as shareholders. Funcef and Petros are part of the Investment Fund (FIP), which also has a holding of the Batista brothers as a partner.
Several assets of J&F, owner of the Friboi, went on sale after the Snitching Baptist brothers in May. The Group has sold major business operations of meat from South America to the fridge Minerva, for $ $300 million; the Sneakers, to the Cambuhy and Itaúsa, R $3.5 billion; and the force for the Mexican group Lala, by $5.7 billion.
In may, the Bailey brothers closed leniency agreement with Federal prosecutors and pledged to pay a fine of Rs $10.3 billion.