Forest / Wood Products
International Forest Products Ltd Completes Acquisition Of Sawmill Operations From Keadle Lumber Enterprises, Inc.
International Forest Products Ltd announced that it has completed the acquisition of the sawmill operations from Keadle Lumber Enterprises, Inc. of Thomaston, Georgia. The total investment including the acquisition cost and capital for the additional kilns is approximately USD45 million, excluding working capital.
Weyerhaeuser Co Announces Acquisition Of Longview Timber LLC-Form 8-K
Weyerhaeuser Co reported in its Form 8-K that on June 14, 2013, Weyerhaeuser Company (Weyerhaeuser or the Company) entered into a Stock Purchase Agreement with Longview Timber Holdings, Corp. (Longview Holdings) and certain of its security holders. Pursuant to the Purchase Agreement and other related agreements, the Company will acquire, with cash, all of the equity interests in Longview Timber LLC (Longview Timber) for an aggregate purchase price of $2.65 billion, which amount includes the assumption of Longview Timber’s debt and is subject to adjustment based on Longview Timber’s net working capital and net cash at closing in accordance with the terms of the Purchase Agreement. Longview Timber is a privately-held Delaware limited liability company engaged in the ownership and management of approximately 645,000 acres of timberlands primarily in Oregon (approximately 333,000 acres) and Washington (approximately 312,000 acres). The closing of the Acquisition is subject to the receipt of certain third party consents and the satisfaction or waiver of various customary closing conditions. The Company expects the closing of the Acquisition to occur in July 2013, subject to the satisfaction of closing conditions. The Company expects to finance the purchase price for the Acquisition with cash and a combination of new equity, equity-linked and debt securities.
Weyerhaeuser Co Signs Definitive Stock Purchase Agreement To Acquire Longview Timber LLC; Increases Quarterly Dividend; Arranges Financing
Weyerhaeuser Co announced it has a signed definitive stock purchase agreement to acquire Longview Timber LLC from affiliates of Brookfield Asset Management Inc. for $2.65 billion, which includes the assumption of debt. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in July 2013. The Company is acquiring approximately 645,000 acres of timberlands in Washington and Oregon that are complementary and contiguous with the Company's existing acreage. This transaction will expand Weyerhaeuser's timber holdings in the Pacific Northwest by 33% to approximately 2.6 million acres and increase the total amount of U.S. timberlands it owns or controls to approximately 6.6 million acres. The Company expects to reach annual synergies of approximately $20 million within two years of closing. Upon closing, Weyerhaeuser expects the acquisition to be immediately accretive to the Company's funds available for distribution per share. In conjunction with and subject to the completion of the acquisition, the Company intends to increase its quarterly dividend from $0.20 per share to $0.22 per share beginning with the third quarter dividend, payable in September 2013. In conjunction with this transaction, Weyerhaeuser intends to raise approximately $2.45 billion in a combination of debt and equity. The Company has a committed senior unsecured bridge facility from Morgan Stanley.
Cavco Industries Inc Announces Stock Purchase Agreement
Cavco Industries Inc announced that it entered into an agreement to acquire full ownership of Fleetwood Homes, Inc., the parent company of Fleetwood Homes, Palm Harbor Homes, CountryPlace Mortgage, and Standard Casualty business units. Cavco currently owns 50% of Fleetwood Homes, Inc. and the acquisition will complete the purchase of the other 50% ownership of Fleetwood Homes, Inc. currently held by Third Avenue Value Fund and an affiliate. Cavco will issue shares of its common stock to Third Avenue and its affiliate for consideration for the shares of Fleetwood Homes, Inc. that they own. This transaction is consistent with the original intention of the Company and Third Avenue at the outset of their partnership in forming Fleetwood Homes, Inc. in 2009. Although certain buyout terms were included in the shareholders' agreement between the parties, this transaction was successfully separately negotiated approximately one year earlier than the buyout provisions in the shareholders' agreement were to become effective.
Guangxi Fenglin Wood Industry Group Co Ltd to Acquire Stake in Huizhou-based Company
Guangxi Fenglin Wood Industry Group Co Ltd announced that it will acquire a 75% stake in a Huizhou-based company engaged in production and sale of particle board as well as other deeply processed products including furniture and laminated board, from a Hong Kong-based company for RMB 165 million in total.
Superb Summit International Group Limited Announces Letter Of Intent In Relation To Proposed Acquisition
Superb Summit International Group Limited announced that on June 5, 2013, the Company entered into the Letter of Intent with the Potential Vendor (a PRC individual) in relation to the Proposed Acquisition of the heavy energy hydrogenation and upgrading project. Pursuant to the Letter of Intent, the Potential Vendor intends to sell and the Company intends to purchase not less than 80% of the equity interest or the controlling interest in the Target Company. The Letter of Intent is non-legally binding save for certain provisions set out therein. The Target Company is principally engaged in conducting research and development on the hydrogenation and upgrading project of heavy energy, including heavy oil products, low-medium rank coal, biomass, etc. In relation to the heavy energy hydrogenation and upgrading project, the Target Company owns and possesses relevant equipment and certain technologies and rights of patent application. The terms of the acquisition were not disclosed.
Leweko Resources Bhd's Bernam Indah Sdn. Bhd Announces Acquisition Of Bernam Indah Sdn. Bhd
Leweko Resources Bhd announced that the Company's wholly owned subsidiary company, Bernam Indah Sdn. Bhd. has on June 6, 2013 acquired two ordinary shares of RM1.00 each representing the entire equity interest in Pautan Warisan Sdn. Bhd., at par for cash [Acquisition]. With the completion of the Acquisition, Pautan Warisan Sdn. Bhd. becomes a wholly owned subsidiary company of Bernam Indah Sdn. Bhd.
Canfor Corp Announces Completion of Sale of Peace Valley OSB Joint Venture to Louisiana-Pacific Corp
Canfor Corp announced that further to its news release of November 28, 2012, it has completed the sale of its 50% interest in the Peace Valley Oriented Strand Board (OSB) joint venture in Fort St. John, B.C., to Louisiana-Pacific Corp (LP). LP is now the sole owner of the Peace Valley OSB mill. The proceeds of the sale are $77 million including working capital. In addition, Canfor will receive further consideration over a 3 year period based on Peace Valley OSB trailing twelve month EBITDA.
Tadmax Resources Bhd Proposes Acquisition Of Two Units Five Shop Offices
Tadmax Resources Bhd announced that Tadmax has entered into a sale and purchase agreement (SPA) with Capital Castle Sdn Bhd (CCSB or Vendor) on May 30, 2013 for the proposed acquisition of two units of five storey shop offices bearing postal address No. 2D, Jalan SS 6/6, Kelana Jaya, 47301 Petaling Jaya, Selangor Darul Ehsan (the Properties) in accordance with the terms as stipulated below and in the SPA (Proposed Acquisition). CCSB is the registered and beneficial owner of the Properties. The Purchase Consideration of MYR5,400,000.00 for the Proposed Acquisition. The other salient features of the SPA are as follow: Payment terms of MYR5,400,000 - Assumption/Settlement of the Vendor’s loan with Alliance Bank Berhad (who financed the Properties) of MYR3,192,500 owing as at April 1, 2013; and The balance sum of MYR2,207,500 shall be paid over 25 equal monthly instalments of MYR88,300, the first instalment payable one month from the date of this agreement.
Jilin Forest Industry Co Ltd Announces Capital Injection for Equity Acquisition
Jilin Forest Industry Co Ltd announced that it will inject RMB 20.80 million into a Lianzhou-based tourism development company (Company A), to hold an 80% stake, for the cooperation of a Lianzhou-based resort project with two individuals, Cheng Shengqun and Cheng Tianmin. After the injection, Company A's registered capital will increase from RMB 0.5 million to RMB 21.30 million, and the two individuals' holdings will both decreased to 10%.
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Analyst Research
| Report Title | Price |
|---|---|
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: GlobalData
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$125.00
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Provider: GlobalData
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$125.00
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