Suzano, a Brazilian pulp and paper company, has acquired forestry assets from BTG Pactual Timberland Investment Group for USD 376 million.
Dec 24, 2023
Suzano, a leading pulp manufacturer in the world, bought certain forestry assets from two special-purpose firms managed by BTG Pactual Timberland Investment Group worth USD 376 million. The expansion announcement came after Klabin acquired land and forests in Parana, Brazil. The target companies own approximately 70,000 hectares of land in the state of Mato Grosso do Sul, in a region where Suzano already has operations. Some 50,000 hectares of the acquired land are considered “usable,” Suzano said, adding that the area is planted with eucalyptus trees of varying ages. Suzano will pay the agreed value in cash on the deal’s closing date in 2024. The acquisition price may be adjusted to reflect the condition of the targeted assets at the closing date, as is customary in this type of operation, Suzano said.
