Fibria Continues Asset Sales
Brazil’s Fibria has agreed to sell its Losango forest assets in southern Brazil to Chile’s CMPC, it says, for BRL615m ($304m). The asset is the latest outside Fibria’s core business to be sold as a part of a long-term deleveraging plan that has included numerous debt refinancing and an equity raise this year. The Chilean pulp and paper producer plans to make the cash payment to Fibria unit in three steps....
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