Weyerhaeuser Sells Uruguay Timberlands To BTG Pactual Consortium

Weyerhaeuser Company, a private owners of timberlands, said Monday it has agreed to sell its timberlands and manufacturing business in Uruguay to a consortium led by a unit of BTG Pactual for $402.5 million in cash.

BTG Pactual’s Timberland Investment Group and other long-term institutional investors will acquire over 300,000 acres of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery. Weyerhaeuser said it expects to incur minimal taxes in conjunction with the transaction. The deal is expected to close in Q4.

By Bucky Rini