LatinNews Daily - 24 October 2022

*A court of appeal has approved the conclusion of the acquisition of Brazil’s pulp and paper group Eldorado Brasil Celulose by Canadian pulp maker Paper Excellence (PE), Brazilian newspaper Valor Econômico has reported. The deal, which is reportedly worth R$15bn (US$2.9bn), has been on hold for five years due to disputes between PE, which owns a 40.41% stake at Eldorado, and Brazilian investment firm J&F Investimentos, which owns the remainder. J&F, which also controls JBS, one of the world’s largest meatpackers, said that it will appeal the court’s decision. It signed a deal to sell its shares in Eldorado to PE in September 2017, but the two parties later disagreed about some conditions surrounding the closing of the deal. J&F has also accused PE of spying on the e-mails and telephone messages of its executives to obtain privileged information regarding the deal.

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