August 29, 2017 / 9:35 PM / 25 days ago

Indonesia's APP not yet in binding agreement to buy Eldorado Brasil

SAO PAULO, Aug 29 (Reuters) - Indonesia’s Asia Pulp & Paper Co Ltd has not yet signed a binding agreement to buy pulpmaker Eldorado Brasil Celulose SA, the Brazilian company said in a securities filing on Tuesday.

APP is in advanced talks to acquire Eldorado, which went up for sale after controlling shareholders Wesley and Joesley Batista got ensnared in Brazil’s worst corruption probe, Reuters reported on Aug. 24. (Reporting by Tatiana Bautzer; Editing by Sandra Maler)

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