China Paper mulls $5 billion bid for Brazil's Eldorado

China Paper Holdings has joined a group of companies competing to buy control of Brazilian pulpmaker Eldorado Brasil Celulose SA, Folha de S. Paulo newspaper reported on Wednesday.

The Chinese state-run company would be prepared to pay 16 billion reais (5.06 billion US dollars) for a 100 percent stake, Folha reported.

According to the news report, the figure would top Indonesia's Asia Pulp and Paper Group, which reportedly placed a 15 billion real bid.

China's stock regulator recently said mergers & acquisitions (M&As) have become the main way to support the country’s real economy.

The statement from the China Securities Regulatory Commission (CSRC) elaborated ways M&As are supporting the real economy – like the improvement in its marketization process.

China Paper Holdings Limited is an investment holding company, engaging in the production and distribution of paper and paper chemical products.

(CGTN)