Proskauer advised a consortium led by BTG Pactual Timberland Investment Group (TIG) on the acquisition of Weyerhaeuser’s timberland and manufacturing assets in Uruguay.
TIG is one of the largest timberland managers globally with nearly $3 billion in assets and commitments and over 1.8 million acres under management throughout the U.S., Latin America, Eastern Europe and South Africa.
Weyerhaeuser is a real estate investment trust and one of the world’s largest private owners of timberlands. The company also manufactures wood and cellulose fiber products. It is headquartered in Seattle and listed on the NYSE.
The transaction, valued at $402.5 million, includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a co-generation facility, and a seedling nursery.
Partner Daniel Ganitsky led the team at Proskauer which also included partners Martin Hamilton, Joshua Miller and Eric Remensperger.