Norske Skogindustrier ASA, the world's
second-largest newsprint maker, boosted its stake in a Brazilian forestry and
paper project for $57 million, according to Bloomberg.
Norske unit Fletcher Challenge Produtos
Florestias bought shares in Papel de Imprensa SA, or Pisa, from another
shareholder, media company Grupo O Estado de Sao Paulo. The deal is expected to
close by April.
Pisa was previously part-owned by New
Zealand's Fletcher Challenge Paper. Norske bought Fletcher's paper operations
in July for $2.5 billion.
Norske already has three other mills in the
region, which produces less than half the two million metric tons of newsprint
it uses annually.
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