November 29, 2018 / 3:04 PM / 12 days ago

Suzano, Fibria tie-up gains EU antitrust approval with conditions

BRUSSELS, Nov 29 (Reuters) - Brazilian pulp and paper producer Suzano Papel e Celulose secured EU antitrust approval on Thursday to acquire Fibria Celulose after agreeing to end the Brazilian peer’s exclusive sales deal with Klabin.

The European Commission said the concession addressed its concerns. The deal will create the world’s largest pulp producer.

Fibria has acted as the exclusive sales agent for all sales of bleached eucalyptus kraft pulp - an input to the paper, tissue and packaging industry - produced by Klabin outside South America. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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