Fibria Plans Follow-on, Unloads Land

Fibria Plans Follow-on, Unloads Land

Brazil Equity M&A

Continuing with its multiyear plan to strengthen finances, Brazil’s Fibria is planning to raise BRL1.25bn ($710m) in an equity follow-on, and has agreed to offload land assets to raise $235m, it says. The pulp and paper producer is preparing to file for an equity offering to raise additional funds, but does not offer any additional details. Barclays spots the offering at 17.6% of Fibra’s market cap, it says in a report. It would be the first offering under the new Fibria name, though both Votora

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