Brazilian wood-based panels manufacturer Dexco company has informed shareholders that it has signed a share purchase and sale agreement with a Timber Investment Management Organisation and, as consenting intervening parties, with Duratex SPE SA and Duratex Florestal Ltda.
The Agreement establishes the terms and conditions for the sale of 100% of the preferred shares representing 50% of the total shares issued by Duratex SPE I SA, by Dexco to the Investor, referring to approximately 8,000 hectares of planted forests, with a total value of R$200m paid in cash.
On the same date, Dexco and the investor also signed a Shareholders’ Agreement, establishing rules for the exercise of voting rights and restrictions on the transfer of shares of Duratex SPE I SA, which will be controlled by Dexco.
The Transaction aligns with Dexco’s investment strategy and aims to attract investors to maximize the efficiency of its wood and derivative products exploration and commercialization activities.
Dexco’s announcement follows up on the Material Fact disclosed by the
company on June 11, 2024.
