VCP Awaits Safra’s Move on Aracruz

VCP Awaits Safra’s Move on Aracruz

Funds

Brazil’s pulp industry is a step closer to consolidation following VCP’s announcement Wednesday that it purchased a 28% stake in Aracruz – which is optioned by Safra – from the Lorentzen Group for $1.7bn. Credit Suisse advised Lorentzen while Estater, a Sao Paulo-based boutique, advises VCP. Added to an existing 28% stake, VCP now has 56% of the voting shares in Aracruz, a global exporter of pulp and the largest of its kind in LatAm. VCP’s bid to become one of the world’s top pulp exporters depe

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