FEDERAL WAY (dpa-AFX) - Weyerhaeuser Company (WY) announced an agreement to sell its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual's Timberland Investment Group, including other long-term institutional investors, for $402.5 million in cash. The transaction includes 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 anticipates it will incur minimal taxes in conjunction with the transaction.
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