VCP Sells Stake in JV

Votorantim has agreed to sell its 40% stake in a paper-producing factory to partner Ahlstrom of Finland for BRL67m. The Brazilian paper and pulp producer exercised a sell option that was part of the joint venture agreement to build the facility in Jacarei, Sao Paulo agreed last year. VCP made the move as part of its efforts to divest paper assets and focus on pulp production.