AbitibiBowater Completes Sale of Timberlands in Quebec
Sept. 3, 2009 - AbitibiBowater said that it has completed the sale of approximately 121,000 hectares (300,000 acres) of private timberlands in Quebec, Canada, for C$53 million in cash.
Proceeds from the sale will be used for general corporate purposes, AbitibiBowater said.
Timberlands located in the Mauricie, Charlevoix and Saguenay regions were sold to two newly formed limited partnerships held by Societe de gestion d'actifs forestiers Solifor, s.e.c.
Timberlands located in the Cote-Nord region were sold to Amenagements forestiers Portneuf (3908666 Canada Inc.).