Deals
J&F Negotiates to Buy Back Shares of Eldorado From Pension Funds
- Talks on pulpmaker are part of amendment to court accord
- Funds Funcef, Petros are part of probe on pension fraud
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J&F Investimentos SA, the Brazilian holding company that controls JBS SA, is in talks to buy back shares of pulpmaker Eldorado Brasil Celulose SA that are owned by pension funds Funcef and Petros as part of an amendment to a court deal, according to a prosecutor’s document.
J&F will put 685 million shares of Eldorado, or 30 percent of company equity, in escrow while discussing the terms of the deal, which is expected to be concluded by March 31. Those shares are valued at about 2.5 billion reais ($792.1 million), the document shows.