September 11, 2018 / 6:38 PM / a year ago

Shareholder approval likely in Fibria-Suzano deal, BNDES exec says

FLORIANOPOLIS, Brazil, Sept 11 (Reuters) - Shareholders are likely to approve a tie-up between Brazilian pulp firms Fibria Celulose SA and Suzano Papel e Celulose SA , an executive at Brazilian development bank BNDES said on Tuesday.

At an event in the southern city of Florianopolis, Eliane Lustosa, investments director at BNDES, which is a shareholder in both companies, said she expects the deal to be concluded by December. Lustosa added that the bank will release new rules about divestments in September that will allow it to sell more stakes in listed companies. (Reporting by Carolina Mandl Editing by Leslie Adler)

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