June 5, 2017 (New York) – International law firm Proskauer is representing a consortium led by BTG Pactual’s Timberland Investment Group (TIG) in the acquisition of Weyerhaeuser Company’s (NYSE:WY) timberlands and manufacturing business in Uruguay for $402.5 million in cash. The transaction includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery. It is expected to close in the fourth quarter of 2017.
The Proskauer team was led by partner Daniel Ganitsky (Mergers & Acquisitions and Latin America) and included partners Martin Hamilton (Tax), Joshua Miller (Employee Benefits & Executive Compensation) and Eric Remensperger (Real Estate) and associates Kunal Dogra and Andrew Santimays (Mergers & Acquisitions).
Proskauer’s M&A team has advised on a number of high profile, cross border M&A transactions in recent months including Grifols in its $1.85 billion definitive agreement to acquire the blood screening business of its commercial partner Hologic.
Proskauer’s Latin American team recently advised Pacific Exploration & Production Corporation, the Canadian oil and gas company with principal operations in Latin America, in the restructuring of $5.5 billion of financial indebtedness and other commercial liabilities. The transaction was the largest restructuring in Colombian history, and involved bankruptcy proceedings in Colombia, Canada and the United States.