Overview

• Nofal acquired 452.6 million class B shares, equal to about 45.5% of the company, displacing the Tapebicuá fund as controlling shareholder.
• Under CNV rules, the change of control obliges a public takeover offer for all outstanding shares, and the buyer signaled he will ask regulators to allow an exception to the usual reference pricing.
• Celulosa is in concurso preventivo with roughly US$128 million in liabilities after losses and negative equity raised going‑concern doubts.
• The Capitán Bermúdez and Zárate plants have been idled since late July with only minimal maintenance due to a severe working‑capital squeeze.
• Credit pressure includes a bankruptcy petition by Tecmaco Integral over ARS $17 million in bounced checks, while the company’s advisers at VALO Columbus continue seeking fresh capital or a sale.