J&F pays R$15 billion in cash to Paper Excellence and takes control of Eldorado

J&F announced this Thursday, 15th, that it paid R$ 15 billion in cash to acquire the Eldorado Brasil Celulose shares previously held by Paper Excellence. The agreement ends one of the country's largest corporate disputes, starring the Brazilian multinational against the Indonesian company. The agreement closes all ongoing judicial and arbitration actions in Brazil and abroad, and guarantees a significant return for the seller, which held just under half of the pulp company's shares (49.41%). "This is a page we have turned amicably, wishing success to our former partners and opening a new chapter in Eldorado's history," says J&F's president and Eldorado's board chairman, Aguinaldo Filho. The transaction makes J&F the sole shareholder of Eldorado and ends a dispute that had been ongoing since 2018. The agreement's value represents around ten times the pulp manufacturer's 2024 Ebitda (earnings before interest, taxes, depreciation, and amortization). J&F, owned by the Batista ...