May 18, 2021 (New York) – Proskauer, a leading international law firm, today announced that the firm is representing a consortium of institutional investors led by long-time client BTG Pactual’s Timberland Investment Group in the acquisition of a significant Chilean timberland asset for $385.5 million in cash. The transaction is subject to customary purchase price adjustments and closing conditions, including regulatory review, and is expected to close in the third quarter of 2021.

The transaction includes over 80,500 hectares of high-quality, sustainably-managed timberlands in the central and southern regions of Chile, and supports the consortium’s strategy of investing in timberland assets around the world that can achieve compelling investment returns, while applying the highest standards of environmental and social governance. The timberlands in this transaction have all been certified by the Forest Stewardship Council (FSC). The other investors in the consortium are some of the world’s largest institutional investors.

This is the latest in a series of transactions in which Proskauer has advised BTG Pactual, the largest independent investment bank in Latin America. In connection with its timber asset management business, Proskauer has represented BTG Pactual in some of the most significant timber transactions across the world, including the $1.39 billion acquisition of East Texas timberlands in partnership with CatchMark Timber Trust, Inc. (NYSE: CTT), the $402.5 million acquisition of Weyerhaeuser’s Uruguay timberlands and manufacturing business, its acquisition of The Timber Group (which created BTG Pactual’s Timber Investment Group) and its acquisition of Regions Timberland Group.

The team is led by partners Daniel Ganitsky and Kunal Dogra, and includes associates Bryan Nance and Juan Carlos Velez (Mergers & Acquisitions); partner Nicole Runyan (Funds); associate Janicelynn Park (Tax). 

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