RPT-Brookfield to sell assets to Weyerhaeuser, KapStone for $3.68 bln

Brookfield Asset Management Inc on Sunday said it had agreed to sell all its Longview Timber holdings to Weyerhaeuser Co for $2.65 billion, including assumption of debt.

_0">

The company also said it will sell its Longview Fibre Paper and Packaging operations to KapStone Paper and Packaging Corp for $1.025 billion.

"While the timing of the (separate) sale transactions is coincidental, for investors in our funds these transactions represent monetization at excellent returns and puts each of these assets into the hands of strategic buyers who will be able to take them to the next level," Cyrus Madon, Senior Managing Partner in Brookfield's Private Equity Group, said in a release.

Popular posts from this blog

Model Stella Tennant dies 'suddenly' aged 50 as her family pay tribute to 'wonderful woman and an inspiration to us all'

ALL ABOUT CAR INSURANCE:

Video shows cracks in Champlain Towers a YEAR before Surfside condo collapsed: Prospective buyer says she didn't buy a condo there after seeing flaws in parking garage - as death toll rises to 78