Philippi, Prietocarrizosa, Ferrero DU & Uría and Claro & Cia. advised on the deal
The Hancock Timber Resource Group (HTRG) has completed the acquisition of approximately 12,250 hectares of timberlands in central Chile.
The timberlands were acquired from Forestal Tierra Chilena Ltda. a limited liability company established by Mitsubishi Corporation and Mitsubishi Paper Mills Limited in 1990 to develop timberlands in Chile and provide fiber to Mitsubishi Paper Mills Limited.
The lands are located in the Bio Bio and Araucania Regions of Chile which are known for their productive soils and deep timber markets.
This is the company’s second acquisition in Chile. In 2014, HTRG acquired approximately 62,000 hectares of timberland through a joint venture with MASISA S.A., a Chilean forest products company. With this latest acquisition, HTRG manages approximately 75,000 hectares of timberland in Chile and 2.4 million hectares globally.
The Hancock Timber Resource Group, founded in 1985, is a division of Hancock Natural Resource Group, Inc., a unit of Manulife Asset Management Private Markets. Based in Boston, it manages approximately 5.9 million acres of timberland in the United States, Brazil, Chile, Canada, New Zealand and Australia on behalf of investors worldwide.
Philippi, Prietocarrizosa, Ferrero DU & Uría advised the Hancock Natural Resources Group with Carlos Alberto Reyes (Picture) Cristóbal Uriarte and Daniel Barros.
Claro & Cia. advised Forestal Tierra Chilena (Mitsubishi Corp) with Patricio Smart and Tomás González.
Involved fees earner: Carlos Alberto Reyes – Philippi Prietocarrizosa Ferrero DU & Uría; Daniel Barros – Philippi Prietocarrizosa Ferrero DU & Uría; Cristóbal Uriarte Suazo – Philippi Prietocarrizosa Ferrero DU & Uría; Patricio Smart – Claro y Cia; Tomás González – Claro y Cia;