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CORRECTED-Eldorado, Chile's Empresas Copec talks end over price, sources say
August 4, 2017 / 1:57 PM / 13 days ago

CORRECTED-Eldorado, Chile's Empresas Copec talks end over price, sources say

(Corrects headline, paragraphs 1 and 2 to reflect that Chile's Empresas Copec SA owns Arauco, not CMPC)

SAO PAULO, Aug 4 (Reuters) - Talks between Chile's Empresas Copec SA COP.SN and J&F Investimentos SA over Brazilian pulpmaker Eldorado Brasil SA have collapsed as the end of an exclusivity period approached and price disagreements remained, three sources with direct knowledge of the matter said on Friday.

Empresas Copec's unit Arauco remains interested in Eldorado Brasil, said one of the people, who requested anonymity to discuss the matter freely. The exclusivity period ended in the early hours of Friday. According to the people, Arauco could continue to negotiate better terms for the purchase, although facing competing bids for Eldorado.

Efforts to contact the companies were not immediately successful. (Reporting by Guillermo Parra-Bernal and Tatiana Bautzer)

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