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Weyerhaeuser Reaches Two Agreements To Purchase And Sell Timberlands

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.

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