Votorantim acquires a minority stake in Aracruz (Brazil)

Votorantim Celulose e Papel SA acquires a minority stake in Aracruz Celulose SA
Votorantim Celulose e Papel SA (VC), a unit of Grupo Votorantim, raised its stake to 24.744% from 12.372% by acquiring a 12.372% stake, or 127.506 mil ordinary shares in Aracruz Celulose SA (AC), a manufacturer of eucalyptus products, from Arainvest Participacoes SA, a unit of Grupo Safra SA, for 2. 71 bil Brazilian reais ($1. 148 bil US). Concurrently, VC agreed to raise its stake to 37.117% from 24.744% in AC and subsequently raise its stake to 42.636% from 37.117% in AC. Previously, VC agreed to raise its stake to 44.141% from 42.636% and subsequently acquire the remaining 55.859% interest, which it did not already own in AC. Additionally, an investor group comprised of Bndes Participacoes SA, Votorantim Industrial SA and Arainvest Participacoes SA, agreed to acquire a 47.242% stake in VC.