VCP Lands Aracruz Stake on New Terms

VCP Lands Aracruz Stake on New Terms

Funds

Votorantim is set to become the main shareholder in Aracruz, the region’s largest pulp and paper company, after sealing a BRL2.7bn deal that had been hanging in the balance. Voto’s VCP unit is acquiring a 28% stake in the embattled Aracruz from the Lorentzen family after more than 5 months of delay. The deal announced yesterday was set to close in October, but froze after Aracruz’s announcement of a $1bn loss stemming from FX derivatives. The 28% stake was originally priced at BRL2.7bn ($1.7bn a

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial