Brazilian Suzano Paper e Celulose to Acquire Futuragene

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Researched by Industrial Info Resources (Sugar Land, Texas)--Brazilian Suzano Papel e Celulose S.A. (San Pablo, Brazil), a producer of pulp, paper & wood products, has offered to buy English biotechnology research and development company Futuragene (LSE:FGN) shares for $85.9 million.

Suzano and Futuregene have been working together since 2001. Futuregene developed crop-boosting genetic technology to enhance Suzano's estate of eucalyptus trees, as it owns about 750,000 acres of forest land. Suzano indirectly holds 7.6% of the company. Suzano's $85.9 million offer was accepted by Futuragene's shareholders, but the transaction is subject to approval of the High Court of England and Wales. According to company officials, the term of the approval has not been decided yet. If it is approved, Suzano will indirectly hold 100% of the Futuragene shares.

Brazilian Suzano Papel e Celulose is a producer of pulp, paper and forestry products. It has five operational plants in the states of Bahia and Sao Paulo, and exports products to more than 80 countries.

Futuragene is a multinational company that performs genetic research and development, and engineering methods for the forestry, biofuel and agricultural markets. At present, it runs its operations in the United Kingdom, United States, and China. It has partnerships with international companies such as Suzano, Bayer CropScience, Forage Genetics (Land 'O Lakes), China Academy of Forestry (CAF), AA Alliance, and Targeted Growth.

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