Deals
Pulp Maker Suzano Buys Forestry Funds Managed by BTG in $376 Million Deal
- Timberland Investment Group land’s is in central-west Brazil
- Company raises its capital-expenditure forecast with deal
A eucalyptus plantation near a site operated by Fibria Celulose SA in Brazil.
Photographer: Rich PressThis article is for subscribers only.
Suzano SA, the world’s largest producer of hardwood pulp, has acquired forestry assets in a bid to expand its self-sufficiency in wood supply.
The Sao Paulo-based company agreed to purchase two funds managed by Banco BTG Pactual SA subsidiary Timberland Investment Group for about 1.83 billion reais ($376 million), according to a filing late Saturday. Those funds own about 70,000 hectares of land in the state of Mato Grosso do Sul, located in central-west Brazil.