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RGE's Bracell buys OL

RGE's Bracell buys OL

January 16, 2023 | Thierry Ogier
Brazilian cellulose producer is expected to pay $98 mln for the tissue company as it tries to keep pace with rival Suzano

Corporate & Sovereign Strategy Equity M&A Asia Brazil Singapore Capital Markets

Brazilian cellulose producer Bracell, a subsidiary of Singapore's Royal Golden Eagle (RGE), confirmed that it acquired local tissue company OL Papéis, three months after rival Suzano bought the local tissue assets of Kimberly-Clark. The deal assigns OL and enterprise value of BRL500 million ($98 million), according to Valor Econômico, the local newspaper that broke the story on Thursday. OL operates three production plants in northeast Brazil with two in the state of Bahia and one in Pernambuco,

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