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PotlatchDeltic To Sell 72,000 Acres In Minnesota To Conservation Fund

PotlatchDeltic Corp. (PCH) agreed to sell about 72,000 acres in Minnesota to The Conservation Fund for about $48 million in cash.

The transaction is expected to close in the second half of 2020.

The company expects proceeds from the deal will further enhance its liquidity position and flexibility.

The company noted that its Minnesota ownership was about 330,000 acres when it began its rural land sale program over a dozen years ago. The timberlands that it currently own in Minnesota are heavily weighted to more remote areas, ideal for conservation and working forest protection. Nearly all of its ownership in the state is now under contract with a series of closings scheduled to occur through 2022.

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