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Boise Announces Sale of 2.2 Million Acres of Timberland for $1.65 Billion to Forest Capital Partners, LLC.
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PR Newswire
- Article date:
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December 22, 2004
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Copyright informationCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOISE, Idaho, Dec. 21 /PRNewswire/ -- Boise Cascade, LLC, today announced it has reached a definitive agreement to sell approximately 2.2 million acres of timberland located across the Pacific Northwest, Louisiana, Alabama, and Minnesota to Forest Capital Partners, LLC, of Boston, Massachusetts, for $1.65 billion in cash.
Proceeds from the sale will be used to reduce Boise's outstanding debt. The transaction is expected to close in the first quarter of 2005.
As part of the transaction, Boise will enter into a number of long-term fiber supply agreements with Forest Capital, ensuring the continued supply of fiber to Boise's pulp and paper mills and wood products ...
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