Klabin, Arauco Acquire Land-Rich Forest Co

Brazilian paper manufacturer Klabin and Chilean wood products company Arauco have agreed to a $473.5m deal to acquire Florestal Vale do Corisco, a company that controls 107 hectares in the Brazilian state of Parana. The pair plan to acquire the shares through Centaurus holdings, a vehicle owned 51% by Klabin (51%) and 49% by Arauco. An official at Klabin said the company and its partner Arauco planned to use a portion of the land for several industrial purposes but could not offer further details on the deal or the company’s strategy. Both Klabin and Florestal were unable to comment on advisors used on the transaction.