Sale of Smurfit Stone interest close

Venepal, the struggling Venezuelan company, 20 per cent controlled by Smurfit Stone Container Corp, is close to being sold to Corporacion Papelera Mexicana, Mexico's second-largest paper company, according to a Venepal spokesman. Venepal reached an agreement last week with creditors to restructure $75 million (€69.4 million) in debt and to find a strategic partner within two years. "Negotiations with Copamex are very advanced, they've finished their due diligence and could end up controlling the company," the spokesman said.