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Masisa Selling Chilean Forests

After a nearly a year of negotiations, Masisa Forestal SpA has agreed to sell its forestlands in Chile to Global Forest Partners, Lebanon, N.H. The deal includes just under 200,000 acres.

After a nearly a year of negotiations, Masisa Forestal SpA has agreed to sell its forestlands in Chile to Global Forest Partners, Lebanon, N.H.

The deal includes just under 200,000 acres, most of it planted and the remainder either available for planting or native forest. Also included are a 1,080-acre nursery with a production capacity of 11.8 million plants per year, as well as a long-term supply contract to continue supplying Masisa S.A.’s industrial operations in Chile.

Masisa will use most of the $350 million in proceeds to pay down debt.

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