Russia: Hit sells off stake in Volga

Comnhia vale do Rio Doce (CVRD) has sold its stake in Bahia Sul to Suzano who owns half of the voting shares in the company. CVRD was paid $320 million for selling 50% of the shares and 19.94% of the producer's preferene stock. The deal is expected to boost Suzanos capacity of bleached eucalyptus pulp by 570,000 tonnes per year and a paper output by 215,000 tonnes per year.