Business

J&F’s beef with Paper Excellence not over yet

A court decision that was supposed to end Brazil’s largest corporate dispute in years might still be challenged

Eldorado eucalyptus stocks in Três Lagoas, Mato Grosso do Sul. Paper Excellence and J&F fight over Eldorado in court. Photo: Danilo Verpa/Folhapress
Eldorado eucalyptus stocks in Três Lagoas, Mato Grosso do Sul. Paper Excellence and J&F are fighting over Eldorado in court. Photo: Danilo Verpa/Folhapress

Paper Excellence (PE), a company owned by Indonesian magnate Jackson Wijaya, on Friday said it had been authorized by a court to complete the acquisition of 100 percent of Eldorado, one of the biggest pulp manufacturers in Brazil. 

Eldorado’s current controller, J&F Investimentos (part of the same group as meat giant JBS), however, said it was “surprised” by the decision, signaling that it will likely challenge the court’s sentence.

The court decision was the latest move in a four-year dispute over the deal.

The conflict began in 2019, when J&F said it gave up on selling its 51 percent...

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