Europe allows Suzano-Fibria merger with minor condition

By Valor International

The merger of Suzano and Fibria could be concluded as soon as January 14 now that the European Commission has cleared the operation. One condition imposed on the deal between the pulp producers was that Fibria end a contract with Klabin to supply up to 900,000 tonnes of pulp a year – a minor matter for the newly formed company that will have combined exports of more than R$20 billion a year. The EC takes up to 45 days to verify all the paperwork, so the companies can complete the merger after that deadline passes in early January.