NEW YORK, June 5, 2017 – BTG Pactual (BBTG11 : BM & FBOVESPA) today announced that a consortium led by Timberland Investment Group, part of BTG Pactual Asset Management a one of the world’s largest timber asset managers, has agreed to buy Uruguay timberlands and a manufacturing business from Weyerhaeuser for $402.5 million in cash.
The acquisition will significantly expand the Timberland Investment Group’s presence in Uruguay, where it has operated since 2005. 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.
“We are pleased to have reached an agreement to acquire this high quality, integrated timberland asset together with a group of experienced co-investment partners,” said Gerrity Lansing, head of BTG Pactual’s Timberland Investment Group. “This acquisition supports our strategy of investing in sustainably-managed timberland assets globally, and significantly increases our footprint in Uruguay.”
The transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2017. The buyer consortium and Weyerhaeuser Uruguay will continue to operate separately until the transaction closes.
ABOUT BTG PACTUAL
BTG Pactual is a leading Latin American Investment Bank. It provides a comprehensive range of services to a global client base that includes corporations, institutional investors, governments and high net worth individuals. Since 1983, BTG Pactual has been run as a meritocratic partnership. Today it has 224 partners, net equity of $5.6 billion, and its stock is publicly traded on the Bovespa under the ticker: BBTG11. BTG Pactual’s Timberland Investment Group manages nearly $3 billion and over 1.8 million acres of commercial timberland globally. For more information, please go to www.btgpactual.com
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