BlackRock Cuts Stake in Brazil's Klabin to 10% of Preferred Shares
BlackRock Cuts Stake in Brazil's Klabin to 10% of Preferred Shares
BlackRock has reduced its stake in Brazilian pulp and paper company Klabin SA to 10% of preferred shares, according to a filing. The move is part of the investment giant's portfolio rebalancing.
Details
In the filing, BlackRock disclosed that its holding in Klabin's preferred shares now stands at 10%, down from a previously undisclosed level. The adjustment aligns with BlackRock's global asset allocation strategy.
Klabin is one of Brazil's largest paper producers, with shares traded on the Bovespa. The stake reduction could influence the company's stock performance.
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