On May 15, J&F made a cash payment of R$15 billion to acquire all of the shares in Eldorado Brasil Celulose held by Paper Excellence.

“This investment reinforces J&F's confidence in Brazil, in Eldorado and in the country's competitiveness in the pulp sector,” says Aguinaldo Filho, president of J&F and chairman of Eldorado's Board of Directors. The agreement ends all ongoing legal and arbitration proceedings in Brazil and abroad and ensures a significant return for the seller. “This is a page that we have turned amicably, wishing success to our former partners and opening a new chapter in Eldorado's history,” says Aguinaldo Filho. 

The transaction makes J&F the sole shareholder of Eldorado. “Today is a day to thank all employees, customers and business partners who trusted in Eldorado’s future,” says the executive.