STXNEWS LATAM-Brazil's Fibria sells land, assets for $117 mln

Mon Jul 2, 2012 1:30pm EDT

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Brazilian wood pulp producer Fibria moved toward concluding the sale of land and forest assets in the northeastern state of Bahia to Caravelas Florestal with a 200 million reais ($99 million) payment, according to a Monday securities filing.

Another 35 million reais are due in November. Fibria announced the deal in March as part of a plan to sell assets and new shares to help pay down debt.

($1 = 2.02 Brazilian reais)

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