From “Investing.com”:



Suzano, a Brazilian pulp and paper company, has acquired forestry assets in Mato Grosso do Sul from two special-purpose firms managed by BTG Pactual Timberland Investment Group for $375.7 million. The acquired land consists of 70,000 hectares, with 50,000 hectares being “usable” and planted with eucalyptus trees. This acquisition comes shortly after a similar move by rival company Klabin and aims to reduce dependence on third-party wood. The payment for the deal will be made in cash on the closing date in 2024, with the possibility of being converted into dollars if the transaction closes after March 31. The acquisition price may also be adjusted to reflect the condition of the assets at the closing date. Additionally, Suzano raised its investment projection for 2024 from 14.6 billion reais to 16.5 billion reais.



Original: Brazil’s Suzano buys forestry assets for $376 million By Reuters