corporate reorganization to combine the operations and shareholders
base of Suzano
was approved by a unanimous vote of Suzano shareholders in the
Extraordinary Shareholders’ Meeting (ESM) held on 13 September
2018. The shareholders approved all matters submitted to voting with
the aim of merging the operations and shareholders base of Suzano and
transaction to merge the two companies’ assets was announced in
March. On August 26, the Board of Directors of Suzano
and of Fibria
unanimously approved the conditions of the transaction. The
competition authorities in the United States, China and Turkey also
have already unconditionally cleared the transaction. In early
September, it was the Securities and Exchange Commission of Brazil
(CVM) who analyzed and also confirmed the transaction complies with
the applicable corporate laws.
decisions taken by shareholders confirm the agreement’s success and
shareholders’ interest in being a part of this unique moment for
the companies and the global pulp and paper industry,” said Walter
Schalka, CEO of Suzano Pulp and Paper.
company will contribute to Brazil’s development by generating
higher inflows of foreign currency, paying taxes, creating new jobs,
strengthening regional economies and improving quality of life for
agreement will be finalized once all required approvals are obtained.
This corporate reorganization will ensure equitable treatment to all
shareholders, with Fibria shareholders receiving from Suzano for each
share they hold R$52.50 per share adjusted by the variation in the
CDI rate plus 0.4611 share in Suzano. As a result, all shareholders
will become shareholders in Suzano.