Klabin S.A. (KLBAY: OTC Link) | Land Acquisition

Land Acquisition

Nov 04, 2011

OTC Disclosure News Service

Sao Paulo, Brazil –

KLABIN S.A.

 

MATERIAL FACT

 

KLABIN ANNOUCES ACQUISITION OF FOREST AREA

 

Klabin S.A. (“Klabin”), largest producer, exporter and recycler of paper in Brazil announces to shareholders and to the capital market that Klabin and Arauco Forest Brasil S.A. (“Arauco”) concluded arrangements for the acquisition of 100% of the quotes of the company Florestal Vale do Corisco Ltda. (“Vale do Corisco”), holder of 107 thousand hectares of lands located in Paraná State, in which 63 thousand hectares are planted.

 

This acquisition will be done by Centaurus Holdings S.A., which is part of Klabin (51%) and Arauco (49%); and it will enable the development of specific projects of each company.

 

The total amount of the transaction is US$ 473.5 million. After the completion of legal procedures and necessary price adjustments, the amount shall be disbursed during November 2011.

 

With this acquisition, Klabin’s planted forests will total 243 thousand hectares, in which 110 thousand hectares will be available for new industrial projects.

 

 

 

São Paulo, November 4th, 2011.

 

 

Antonio Sergio Alfano

CFO and Investor Relations Officer

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/KLBAY/news?id=37487

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