Featured Company News - Consortium led by BTG Pactual’s Timberland Investment Group Acquires Weyerhaeuser Uruguay
LONDON, UK / ACCESSWIRE / September 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Weyerhaeuser Co. (NYSE: WY), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=WY. The Company announced on September 01, 2017, that it has completed the sale of its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual's Timberland Investment Group ("TIG"). The deal was valued at approximately $402.5 million in cash. The Company anticipates to incurminimal taxes in conjunction with the sale. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The transaction includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay; a plywood and veneer manufacturing facility; a cogeneration facility; and a seedling nursery.
TIG Consortium Acquiring a Unique Combination of High-Quality Timber and Manufacturing Assets
Doyle R. Simons, President and Chief Executive Officer (CEO) of Weyerhaeuser, mentioned that the TIG consortium is acquiring a unique combination of high-quality timber and manufacturing assets, and is gaining an exceptional team of highly-skilled employees. Doyle thanked all the employees of the Uruguay team for continuing to operate safely throughout the strategic review process and for their contributions to Weyerhaeuser over the years.
Weyerhaeuser Reported Q2 2017 Results
Weyerhaeuser announced financial results on July 28, 2017, for Q2 2017. The Company reported net sales of $1.8 billion for Q2 2017 which were higher than net sales of $1.7 billion in Q2 2016. However, the earnings from continuing operations fell to $24 million in Q2 2017 compared to $130 million for the same period of last year. Diluted earnings per share (EPS) from continuing operations decreased from 16 cents to 3 cents.
There was an increase in the adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) from $413 million in Q2 2016 to $506 million in Q2 2017. Currently, the Company is in a good position to capitalize on the improving housing market. It would continue working towards driving maximum value for its shareholders through operational improvements as well as disciplined capital allocation.
About Weyerhaeuser Co.
Founded in 1900, Weyerhaeuser is a timber, land, and forest products Company, owning or controlling nearly 13 million acres of timberlands in the US and managing additional timberlands under long-term licenses in Canada. The Company also manufactures wood and cellulose fiber products. Headquartered in Seattle, Washington, Weyerhaeuser is also a real estate investment trust.
About BTG Pactual's Timberland Investment Group
BTG Pactual is a leading Latin American Investment Bank which provides a comprehensive range of services to a global client base that includes corporations, institutional investors, governments, and high net worth individuals. TIG is one of the world's biggest timber asset managers and is keenly focused on sustainable forestry practices and maintaining productive.
BTG Pactual's TIG was formed in 2012 through the acquisition of TTG Brasil Investimentos Florestais, and expanded through the subsequent acquisition of Regions Timberland Group in September 2013.
Last Close Stock Review
At the closing bell, on Tuesday, September 05, 2017, Weyerhaeuser's stock slightly climbed 0.72%, ending the trading session at $32.30. A total volume of 3.28 million shares have exchanged hands, which was higher than the 3-month average volume of 2.99 million shares. The Company's stock price advanced 1.41% in the previous twelve months. Moreover, the stock gained 7.34% since the start of the year. The stock is trading at a PE ratio of 60.15 and has a dividend yield of 3.84%. The stock currently has a market cap of $24.31 billion.
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