Weyerhaeuser Company completes the sale of its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual's Timberland Investment Group for $402.5 million in cash. The company expects it will incur minimal taxes in conjunction with the sale.
The transaction includes over 300,000 acres (120,000 hectares) 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 Company, one of the world's largest private owners of timberlands, began operations in 1900.
