Baptist family, owner of the JBS, sells Eldorado pulp R $15 billion

SAO PAULO-the holding company J&F, the Baptist family, owner of the JBS, announced this Saturday (2) which concluded the negotiations for the sale of the Eldorado pulp and paper with Paper Excellence, Widjaja family, which also owns Asia Pulp and Paper (APP). The acquisition marks the entry of the Group Paper Excellence in Brazil.
The total value of the deal is R $15 billion and the purchase will be made in two steps. At first, the EP will buy 30% to 35% of the business. The remainder will be completed in 12 months. Petros pension funds (Petrobras) and Funcef (box), which are investors still are defining if they sell their shares.
Headquartered in the Netherlands, the Paper Group Excellence began operations in 2007, with your first pulp mill, Meadow Lake, Canada. Since then, has been growing through acquisition of pulp mills in Canada and Europe.
In a statement, the J&F highlights the quality of the assets that comprise the Eldorado. The Paper Excellence remains the strategy of expanding your operation and always had Brazil on the radar for being a country with a differentiated position in the global scenario of the production sector. The Eldorado, which produces around 1.7 million tons of eucalyptus pulp per year, is an important acquisition for the Group Paper Excellence because it includes in your asset portfolio of eucalyptus pulp production.
Since the day may 17, when the information of the brothers Baptiste came to light, the family began to get rid of various assets. The group signed a leniency agreement with Federal prosecutors, in the amount of R $10.3 billion.
In recent months, JBS disbanded controllers of various businesses, as the Force (sold to Mexican group Lala by R $5.7 billion), Sneakers (for Itaúsa and Itaú Unibanco, a member of the Cambuhy) by R $3.7 billion), in addition to the operations in South America to the fridge Minerva national, for $ $300 million.
The Eldorado, which has an industrial complex in Três Lagoas (MS), has been coveted by major companies in the sector. In June, the Baptist family came to close an exclusive deal with the Chilean group Arauco, which would have committed to pay about $14 billion for business R. In addition, the national groups and demonstrated interest by Fibria Suzano active.