Weyerhaeuser's (WY) Twin Creeks Deals To Boost Core Business
Zacks Investment Research | Oct 12, 2017 09:30PM ET
Forest product manufacturer and supplier, Weyerhaeuser Company (NYSE:WY) yesterday announced that it has sold its 21% equity interest in Twin Creeks Timber LLC (Twin Creeks). The company also communicated the signing of an agreement to dispose 100,000 acres of Southern Timberlands to Twin Creeks. Net cash proceeds from the both transactions are estimated to be $310 million.
We believe the deals are in sync with the company’s strategic initiatives to concentrate on its core timber, land and forest products business.
Quarter to date, Weyerhaeuser’s shares have yielded 1.6% return, marginally outperforming 1.4% gain of the Original post
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