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International Paper Completes Sale of 900,000 Acres of Forestland

[ Tennessee ] International Paper has completed the previously announced sale of 900,000 acres of forestland in Louisiana , Texas and Arkansas to TimberStar Southwest, whose lead investor is TimberStar, a subsidiary of iStar Financial Inc., for approximately $1.13 billion in cash and notes. …the parties also entered into a 50-year fiber supply agreement for IP’s pulp and paper mills, and a 30-year fiber supply agreement for IP’s wood products facilities, both at market prices. Atlanta-based TimberStar, a new timber and timberland company, was founded in 2005 for the purpose of acquiring productive forestlands and managing them for long-term timber production.

News notes are courtesy of Southern Forests Network News Notes
www.southernsustainableforests.org

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