Weyerhaeuser Company Announces Enhancements to Their Oregon Timberland Holdings

Weyerhaeuser Company announced today that it has entered into two distinct agreement to purchased timberland from and sell timberlands to funds managed by Hancock Natural Resources, a Manulife Investment Management company. Weyerhaeuser is purchasing approximately 85,000 acres of timberlands in mid-coastal Oregon in one transaction and selling 149,000 acres of timberlands in southern Oregon in a second transaction. The net cost of these two separate transactions is approximately $40 million in cash. The transactions are subject to customary closing conditions and are expected to close in the fourth quarter of 2020.