FEDERAL WAY (dpa-AFX) - Weyerhaeuser Co.(WY) said that it reached two agreements to purchase timberlands from and sell timberlands to funds managed by Hancock Natural Resource Group, a Manulife Investment Management company.
The company will buy about 85,000 acres of timberlands in mid-coastal Oregon in one transaction, and sell 149,000 acres of timberlands in southern Oregon in a second transaction. The net cost of those two separate transactions is about $40 million in cash.
The company expects to close the transactions in the fourth quarter of 2020.
Copyright RTT News/dpa-AFX
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