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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