VCP-Aracruz Terms Seen Shifting

VCP-Aracruz Terms Seen Shifting

Funds

The takeover of Aracruz by VCP – which recently agreed to pay $1.7bn to convert its existing 28% stake in the company into a controlling stake – to be shared with fellow stakeholder Grupo Safra, is expected by market watchers to move ahead. That is despite big losses in the FX market and a dramatic drop in its market cap as a result of the news. An Aracruz IR spokesman confirmed late Friday that the deal should proceed. But some analysts say terms may be shifting as the company is now worth over

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