STXNEWS LATAM-Brazil's Fibria says to incorporate subsidiary
Brazilian pulp maker Fibria SA's board voted to incorporate subsidiary Normus Enterprises and Holdings in order to reduce administrative costs and simplify its corporate structure, according to a securities filing on Monday.
The book value of Normus is 1.35 billion reais ($588 million) and incorporation costs are 94,000 reais. There are no recorded liabilities to be assumed by Fibria, the filing said.
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