SAO PAULO (Reuters) - Shares in Brazilian wood pulp producer Fibria Celulose SA (FIBR3.SA) rose 7.6 percent in early Monday trading on a report that Netherlands-based Paper Excellence was considering acquiring it.
Paper Excellence, which is controlled by the owners of Indonesia’s Asia Pulp & Paper Co Ltd, has hired Banco BTG Pactual SA (BPAC11.SA) to advise on a possible acquisition of Fibria, newspaper O Globo reported on its website, without saying how it obtained the information.
But two sources close to Fibria said the company is not seeking a buyer and that controlling shareholders have not received any bid.
Fibria is expected to publish fourth-quarter results after market close on Monday.
Representatives for Fibria, BTG Pactual and Paper Excellence declined to comment.
Reporting by Carolina Mandl and Bruno Federowski; Editing by Frances Kerry