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.