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Top related persons:
Ana Mano - 1 unwind - 1 Investimentos - 1 Jackson Widjaja - 1 Incra - 1 Eldorado - 1 Iraja Abreu - 1 Brad Haynes - 1
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Brazil Canada Europe Latin America United States Eldorado . Eldorado
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Ana Mano SAO PAULO - 1 Eldorado - 1 Excellence - 1 Eldorado Brasil - 1 Agrarian Reform Ministry - 1

Search resuls for: "Eldorado Brasil"


2 mentions found


☆ Brazil Prosecutors Push to Unwind $3 Billion Paper Deal Over Foreign Land Ownership
  + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +3 min
By Ana ManoSAO PAULO (Reuters) - Brazilian federal prosecutors are asking a judge to unwind a 2017 deal handing control of pulp and paper company Eldorado from Brazilian firm J&F to Paper Excellence Group, citing restrictions on foreign land ownership. In 2017, J&F Investimentos agreed to sell Eldorado Brasil Celulose to a unit of Paper Excellence at an enterprise value of 15 billion reais ($3.0 billion). Brazil imposed limitations on foreign land ownership in the early 1970s, but spotty public records have left uncertainty about how consistently those restrictions are enforced. In December, Brazil's rural land agency Incra issued a recommendation saying the deal would effectively give Paper Excellence control of 14,486 hectares of rural land owned by Eldorado. Paper Excellence said Incra's opinion was not legally binding, and a judge has not ruled on the prosecutors' motion.
Persons: Ana Mano, unwind, Investimentos, Jackson Widjaja, Incra, Eldorado, Iraja Abreu, Brad Haynes, David Ljunggren Organizations: Ana Mano SAO PAULO, Reuters, Eldorado, Excellence, Eldorado Brasil, Agrarian Reform Ministry Locations: Brazil, Canada, Europe, Latin America, United States, Eldorado ., Eldorado
☆ Brazilian court allows Paper Excellence to conclude acquisition of Eldorado
  + stars: | 2022-10-22 | by ( Tatiana Bautzer | Nupur Anand | ) www.reuters.com   time to read: +1 min
Judge J.B. Franco de Godoi, at an appeals court, voided a previous court injunction that prevented Paper Excellence from concluding the transfer of ownership of Brazilian pulp maker Eldorado. Paper Excellence won an arbitration against Eldorado's current controlling shareholder, J&F Investimentos, which also controls meatpacker JBS SA (JBSS3.SA). But J&F went to the courts and obtained an injunction preventing the transfer of 100% of Eldorado shares to Paper Excellence. Paper Excellence will then consider how soon it can build a second unit, with an estimated capital expenditure of 10 billion reais ($1.94 billion). The Eldorado deal has been on hold for five years.
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