Mar
04

S.C. Company Strikes $275M Land Deal

By
– SCbizmag.com

American Timberlands Co. has agreed to purchase 114,000 acres of properties in the Southeast from International Paper for $220 million. American Timberlands, a land investment management firm based in Columbia, will also give International Paper a 20% interest in the company in exchange for 29,000 additional acres, valued at $55 million.

The transaction value is subject to various adjustments at closing and is contingent upon the American Timberlands partnership raising enough money to finance the transaction. The transaction is expected to close in mid-June. The location of the properties has not been disclosed.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/109661/1/
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