Klabin S.A. (BOVESPA:KLBN4) agreed to acquire Paraná Forestry Operation of Celulosa Arauco y Constitución S.A. for BRL 5.8 billion on December 20, 2023. The total value paid includes BRL 2.8 billion (?501.41 million $554.51 million) for the acquisition of the land and BRL 3 billion for the wood assets. The conclusion of the deal is subject to suspensive conditions customary in transactions of this nature, including approval by Brazil?s antitrust body, CADE and approval from shareholders.

The transaction is expected to close in 2Q 2024.