By Competition Policy International
Brazilian antitrust regulators approved a tie-up between Fibria Celulose SA and Suzano Papel e Celulose SA, paving the way for the creation of the world’s biggest pulp producer.
In a document filed late on Thursday, before a national holiday in Brazil, a technical board of the Cade antitrust authority approved the $11 billion transaction without imposing any restrictions.
Third parties may still appeal the decision, or a Cade board member could question it and send it to a full-board vote. In practice, though, that rarely happens. That would make Cade the latest in a string of competition watchdogs to sanction the deal, pending only approval in Europe, which is expected by Nov. 15.