Wednesday, Weyerhaeuser Co. (WY, WYL.TO), a timber and forest products producer, signed a letter of intent or LoI with Global Forest Partners LP. According to the company, it is a strategic move to focus its international timberland investment on South America. As per the terms of the LoI, the company would acquire complete ownership of the Los Piques plywood mill and half of the 81,000 hectares of planted forests that the company and two Global Forest Partners investment funds own through separate joint ventures in Uruguay. The ownership of the remaining hectares from the joint ventures would be assumed by Global Forest Partners.Further, Global Forest Partners investment funds would acquire Weyerhaeuser New Zealand Inc. and Weyerhaeuser's interest in the Nelson JV assets, including approximately 67,000 productive hectares of plantation forests in the Nelson/Marlborough region and the Kaituna sawmill. Craig Neeser, Weyerhaeuser senior vice president, Industrial Wood Products and International, said that the agreement restructures its international holdings in alignment with its long-term strategic direction, simplifies its investment and management structure in Uruguay and maximizes its flexibility.Federal Way, Washington-headquartered Weyerhaeuser did not disclose further terms of the agreement. However, the company said that the transaction is subject to the negotiation of definitive agreements and regulatory approvals.On Wednesday, WY closed at $78.69, up $0.36 or 0.46% on a volume of 1,779,300 shares on NYSE and WYL.TO closed at C$84.20, down C$0.80 or 0.94% on a volume of 110 shares on the TSE in the regular trading session.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.