Weyerhaeuser sale of Uruguay timberlands and manufacturing business to a consortium led by BTG Pactual’s Timberland Investment Group for $402.5 million in cash


Proskauer Rose LLP, Posadas, Posadas & Vecino and Ferrere advised on the deal

Weyerhaeuser Company (NYSE: WY) finalized the agreement to sell its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual’s Timberland Investment Group (TIG), including other long-term institutional investors, for $402.5 million in cash. The company anticipates it will incur minimal taxes in conjunction with the transaction.

The transaction 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 cogeneration facility, and a seedling nursery.

The transaction is subject to customary purchase price adjustments and closing conditions, including regulatory review, and is expected to close in the fourth quarter of 2017. Weyerhaeuser Uruguay and the buyer consortium will continue to operate separately until the transaction closes.

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900.

Proskauer Rose LLP advised Timberland Investment Group and BTG Pactual with Daniel Ganitsky (Picture), Martin Hamilton, Joshua Miller, Eric Remensperger, Kunal Dogra and Andrew Santimays.

In Uruguay, Posadas, Posadas & Vecino advised Timberland Investment Group and BTG Pactual with Franciscos Obes, Daniel González, Fernando de Posadas, Gerardo Caffera, Tomás Gurméndez, Andrés Aznarez, Diego Cuenca, Victoria Garabato, Valeria Techera, Cecilia Demarco, María Laura Santos, Florencia Larraburu, Victoria Elduayen, Fernanda Peña, Soledad Eibe, Nicolás Pallas, María Lucia Garicoits and Eugenia Radiccioni.

FERRERE advised Weyerhaeuser Company Limited with Martín Cerruti, Verónica Raffo, Alejandro Pintos, Geraldine Ifrán, Cristina Vignone, Sebastián Ramos, Diego Durán, Florencia Taboas, Ana Laura Oliveros, Ana Inés Martínez, Elena Ferreira, Isabel Hounie, Carolina Piacenza, Andrés Castiglioni, Nicolás Degener, Giselle Cardoso and Cristina Muñoz.

Involved fees earner: Franciscos Obes – Posadas, Posadas & Vecino; Fernando de Posadas – Posadas, Posadas & Vecino; Gerardo Caffera – Posadas, Posadas & Vecino; Tomás Gurméndez – Posadas, Posadas & Vecino; Andrés Aznarez – Posadas, Posadas & Vecino; Victoria Garabato – Posadas, Posadas & Vecino; Valeria Techera – Posadas, Posadas & Vecino; Cecilia Demarco – Posadas, Posadas & Vecino; Florencia Larraburu – Posadas, Posadas & Vecino; Nicolás Pallas – Posadas, Posadas & Vecino; Daniel González Cotelo – Posadas, Posadas & Vecino; Diego Cuenca – Posadas, Posadas & Vecino; María Laura Santos – Posadas, Posadas & Vecino; Soledad Eibe – Posadas, Posadas & Vecino; Martín Cerruti – Ferrere Attorneys; Geraldine Ifrán – Ferrere Attorneys; Sebastián Ramos – Ferrere Attorneys; Carolina Piacenza – Ferrere Attorneys; Nicolas Degener – Ferrere Attorneys; Verónica Raffo – Ferrere Attorneys; Giselle Cardoso Ottonello – Ferrere Attorneys; Cristina Muñoz – Ferrere Attorneys; Alejandro Pintos – Ferrere Attorneys; Cristina Vignone – Ferrere Attorneys; Diego Durán – Ferrere Attorneys; Florencia Taboas – Ferrere Attorneys; Ana Oliveros – Ferrere Attorneys; Ana Inés Martínez – Ferrere Attorneys; Elena Ferreira – Ferrere Attorneys; Isabel Hounie – Ferrere Attorneys; Daniel Ganitsky – Proskauer Rose LLP; Kunal Dogra – Proskauer Rose LLP; Andrew Santimays – Proskauer Rose LLP; Martin Hamilton – Proskauer Rose LLP; Joshua Miller – Proskauer Rose LLP; Eric Remensperger – Proskauer Rose LLP;

Law Firms: Posadas, Posadas & Vecino; Ferrere Attorneys; Proskauer Rose LLP;

Clients: BTG Pactual; Timberland investment resources; Weyerhaeuser;

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Author: Ambrogio Visconti