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REFILE-Brazil's Funcef to exercise tag-along rights in Eldorado stake sale
October 4, 2017 / 6:09 PM / in 18 days

REFILE-Brazil's Funcef to exercise tag-along rights in Eldorado stake sale

(Corrects day of week in first paragraph to Wednesday, not Thursday)

SAO PAULO, Oct 4 (Reuters) - Brazilian pension fund Funcef decided to exercise tag-along rights and sell its 8.53 percent stake in wood pulpmaker Eldorado Brasil Celulose SA to Netherlands-based Paper Excellence BV, according to a statement on Wednesday.

The stake held by Funcef, the pension fund representing employees at state bank Caixa Econômica Federal, is valued at around 650 million reais ($208 million), a person with knowledge of the transaction said. ($1 = 3.1277 Brazilian reais) (Reporting by Aluisio Alves, writing by Bruno Federowski, editing by G Crosse)

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