Chilean forestry group CMPC said it is in talks to buy a unit of Brazilian pulp maker Aracruz for $1.4bn, which would give it access to the world’s cheapest pulp-producing market, reports Reuters. CMPC said that it had signed an MoU with Aracruz to buy the Guaiba unit. Under the accord, Fibria, the company formed after Aracruz’s takeover by rival VCP, will hold exclusive talks with CMPC until a deal is struck.

This entry was posted by Gwen Robinson on Thursday, September 24th, 2009 at 4:35 and is filed under Capital markets, Commodities, M&A. Tagged with Aracruz, CMPC, Fibria. Edit this entry.