Copamex SA, a privately held Mexican paper company, bought a majority stake in Industrial Unidas de Centroamerica SA, a Nicaraguan tissue paper producer, reported Bloomberg.
Copamex purchased 70 percent of Industrial Unidas. The investment is part of its strategy to expand in Central and South America, the company said in a statement to the Mexican stock exchange. No other details were provided.
Copamex negotiated an agreement earlier this week to gain control of the Venezuelan paper maker Venepal SA
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