Portugal invites bids for Portucel Tejo stake

The portuguese government has set Euro 37.9 million as the price for 95% stake in Portucel Tejo. The state launched its offer via its holding company, Portucel SGPS, in January, and bids are to be submitted by February 18. The tender includes Portucel Tejo's 140,000 tonne/yr unbleached pine and eucalyptus pulp plant in Vila Velha Rodao in central Portugal, as well as its wholly-owned subsidiary, Companhia Produtora de papel Kraftsack. Portuguese media reports have pointed out Cofina and Europac as two likely contenders for the bid.