Bloomberg News

Ence to Sell Uruguay Forest to Reduce Debt, CEO Tells Economista

April 21, 2012

Grupo Empresarial Ence SA (ENC) plans to sell part of a forest in Uruguay to cut debt and continue paying a dividend, Chief Executive Officer Ignacio de Colmenares said in an interview with El Economista.

Ence is in talks with forest funds and competitors interested in buying the forest, the newspaper said. The company has also identified potential markets to invest in, such as Romania, Poland, Chile and Peru, de Colmenares said, according to El Economista.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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