December 4, 2017 / 11:33 AM / a year ago

Brazil's Suzano to buy controlling stake in Facepa paper factory

RIO DE JANEIRO, Dec 4 (Reuters) - Brazil’s Suzano Papel e Celulos closed a deal to acquire a majority stake in Amazonian paper factory Facepa for 310 million reais ($95 million), the wood pulp and paper maker said on Monday in a securities filing.

Suzano said it had agreed to buy 92.84 percent of total shares and 99.99 percent of common shares in the company, which manufactures paper towels, napkins, diapers and tissue in factories in Belem and Fortaleza with total capacity of 50,000 tonnes per year.

The price is subject to adjustments, Suzano said in the filing.

$1 = 3.2575 reais Reporting by Alexandra Alper; Editing by Edmund Blair

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