Friday, September 14, 2018

Fibria and Suzano shareholders approve merger

São PAULO Suzano's shareholders and the Company on Thursday approved in extraordinary general assemblies, the merger proposal announced by both in March, which created the world's largest producer of pulp in the world. In separate announcements, the companies reported that the proposal, which involves the incorporation of Fibria's shares by Suzano, was adopted by the assemblies by majority vote. Fibria's shareholders have accepted the offer of Suzano, in cash and stock and evaluated at 35 billion reais. The Union of the two have synergies expected from 12 billion reais. By the closing price of the shares on Wednesday, the combined market value of the companies is about 100 billion reais, which puts the conglomerate between the 10 largest companies listed on São Paulo Stock Exchange. " The consummation of the transaction remains subject to suspensive conditions checking, including the approval by the competition authorities of Brazil and abroad, "companies in another joint statement.
DCI - 13/09/2018 News Item translated automatically
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