July 24, 2018 / 12:33 PM / 2 years ago

Rivals seek involvement in Fibria-Suzano antitrust review -reports

SAO PAULO, July 24 (Reuters) - Two major pulp and paper companies filed a petition last week to participate in the Brazilian antitrust evaluation of Suzano Papel e Celulose SA’s planned $11 billion acquisition of Fibria Celulose SA , two newspapers reported on Tuesday.

U.S.-based International Paper Co and Indonesia’s Royal Golden Eagle International filed the petition, Valor Economico and Estado de S. Paulo reported. That would give them the right to follow the process more closely, make comments, and appeal a decision by Brazil’s competition watchdog.

International Paper said its business could be affected by the deal, including its plant in the town of Tres Lagoas, where its operations are heavily integrated with Fibria’s, Valor reported, citing International Paper’s petition.

Fibria declined to comment on Tuesday. Suzano, Royal Golden Eagle, and International Paper did not immediately respond to requests for comment.

In March, Suzano won a battle against Netherlands-based Paper Excellence to acquire Fibria and create a firm that would have annual global pulp production capacity of 11 million tonnes, more than double that of International Paper, the second largest producer. (Reporting by Gram Slattery Editing by Jeffrey Benkoe)

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