In a significant development, J&F, the holding company of the Batista brothers, has reacquired complete ownership of Eldorado Brasil Celulose. The move comes after an agreement was disclosed on Thursday, securing the cash purchase of Paper Excellence’s 49% stake for R$15 billion.

A Look Back: The Initial sale and Subsequent Dispute

The saga began in 2017 when J&F divested 49.41% of Eldorado’s shares for R$3.8 billion. The agreement included provisions for the sale of the remaining shares to the Sino-Indonesian multinational, contingent upon certain obligations.These obligations reportedly involved settling debts of the pulp company on behalf of the Batista brothers’ holding.

Though,a year later,Paper excellence initiated a legal challenge,alleging that J&F and Eldorado failed to fulfill the necessary obligations to transfer the remaining shares. This marked the beginning of a protracted legal battle.

The Eight-Year Legal Battle Concludes

For nearly eight years, J&F and paper Excellence were entangled in a complex judicial and arbitration dispute over the equity of Eldorado Brasil Celulose.the conflict has now reached its conclusion, with both parties reportedly relinquishing their respective lawsuits to finalize the business agreement.

Financial Implications and Market Impact

The R$15 billion acquisition signifies a major financial transaction, underscoring J&F’s commitment to regaining control of Eldorado Brasil Celulose. The resolution of the dispute is expected to bring stability to the company and the broader pulp and paper market.