J&F sells Eldorado

J&F sells Eldorado

Brazil M&A

Brazil's J&F Investimentos has agreed to sell Eldorado Brasil Celulose to Paper Excellence for BRL15bn ($4.83bn), including debt.Eldorado ended 2016 with BRL7.9bn in net debt and BRL1.2bn in cash. J&F has moved to sell assets, including the footwear firm Alpargatas and the dairy company Vigor Alimentos, to raise funds for JBS, Brazil's largest meatpacking business, which has agreed to pay BRL10.3bn in fines to settle charges of corruption.Paper Excellence will acquire a stake b

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