May 15, 2018 / 11:48 PM / 10 days ago

Asia's April Group in exclusive talks to acquire Brazilian pulpmaker Lwarcel - sources

SAO PAULO, May 15 (Reuters) - Indonesia’s Asia Pacific Resources Group, known as April Group, entered exclusive talks to acquire Brazilian pulpmaker Lwarcel Celulose Ltda, two people with knowledge of the matter said on Tuesday.

April has made the highest bid in the binding phase of the sale process, the sources said, asking for anonymity because the talks are still private.

Other groups that analyzed the deal are Chile’s Empresas Copec SA, Portugal’s Altri SGPS and China’s Shanying Paper Industry, the people added.

$1 = 3.4097 reais Reporting by Tatiana Bautzer; Editing by Sandra Maler

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