March 13, 2018 / 11:49 AM / 5 months ago

Fibria controlling shareholders confirm bid from Paper Excellence

RIO DE JANEIRO, March 13 (Reuters) - BNDESPar and Votorantim Participações SA confirmed on Tuesday that they have received an unsolicited takeover bid from Netherlands-based Paper Excellence for their controlling stake in Brazilian pulp producer Fibria Celulose SA.

In the statement, they said the bid from CA Investment, controlled by Paper Excellence, also includes a buyout offer to Fibria’s minority shareholders.

Negotiations regarding a separate takeover bid from Brazilian pulp maker Suzano Papel e Celulose SA were also still underway, the companies said. (Reporting by Rodrigo Viga Gaier Writing by Gram Slattery)

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