Benzinga | Apr 30, 2021 08:57AM EDT

Weyerhaeuser Announces Agreement To Sell 145,000 Acres Of Timberlands In Washington's North Cascades For $266M

Weyerhaeuser Company (NYSE:WY) today announced the completion of its acquisition of 69,200 acres of high-quality Alabama timberlands from Soterra, a subsidiary of Greif, Inc., for approximately $149 million earlier this week. Separately, the company announced an agreement to sell 145,000 acres of timberlands in the North Cascades region of Washington to Hampton Resources for $266 million. The company expects to recognize a gain on the sale and anticipates no tax liability in conjunction with this transaction.