Deal #3893

Renamed to The Navigator Company As part of its strategy of exploring opportunities for growth and sustained value creation in the southern hemisphere, the Portucel Group has further strengthened its presence in Mozambique by obtaining a provisional Land Use Permit (DUAT) for an additional area of 182,886 hectares in Manica Province, issued by the Mozambican government (Council of Ministers Resolution of 19 December 2011). This new permit was granted under the agreement in principle reached between the Portucel Group and the Mozambican government in 2008, under which land use rights had already been granted for an area of 173,327 hectares inZambezia Province. Portucel is owned by The Navigator Company (the majority shareholder) and the International Finance Corporation (IFC), a member of the World Bank group.