June 16 Brookfield Asset Management Inc
on Sunday said it had agreed to sell all its Longview
Timber holdings to Weyerhaeuser Co for $2.65 billion,
including assumption of debt.
The company also said it will sell its Longview Fibre Paper
and Packaging operations to KapStone Paper and Packaging Corp
for $1.025 billion.
"While the timing of the (separate) sale transactions is
coincidental, for investors in our funds these transactions
represent monetization at excellent returns and puts each of
these assets into the hands of strategic buyers who will be able
to take them to the next level," Cyrus Madon, Senior Managing
Partner in Brookfield's Private Equity Group, said in a release.