Sonae Indústria has announced that its subsidiaries SCS Beheer, BV and Tafiber – Tableros de Fibras Ibéricos have completed the sale of 1000% of the share capital of Tafisa Brasil to Chilean-owned Placas do Paraná for €116m.
The decision to sell was “in line with our disclosed strategy of strengthening our balance sheet,” said Sonae.
The Brazilian operation was seen as being remote from the group and had been challenged by its competitors’ investment in new capacity.
