Weyerhaeuser (NYSE:WY) completed two separate transactions, announced in Sep 2020, in which it purchased timberlands from and sold timberlands to funds managed by Hancock Natural Resource Group, a Manulife Investment Management.
The company purchased 85K acres of timberlands in mid-coastal Oregon in one transaction and sold 149,000 acres in southern Oregon in a separate transaction, for a net cost of ~$40M in cash.
The company expects no tax liability in conjunction with the sale.
“Through these transactions, we’re gaining highly productive timberland, streamlining operating costs and access to key domestic and export markets, and strengthening our ability to deliver immediate and long-term value for our shareholders,” president & CEO Devin W. Stockfish commented.
