Weyerhaeuser finalizes Washington timberlands sale

Weyerhaeuser reported that it has completed the sale of 145,000 acres of timberlands to Hampton Resources.

Located in the North Cascades Region of Washington, the sale price is $266 million.

The transaction was first announced in April and Weyerhaeuser said it anticipates no tax liability in conjunction with the sale.

The Seattle, Wa.-based company reported the sale when announcing it was also purchasing 69,200 acres of timberlands in Alabama from Soterra, a subsidiary of Greif, Inc., for approximately $149 million.

Weyerhauser owns or controls approximately 11 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada.