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Brookfield to Sell Assets to Weyerhaeuser, KapStone for $3.68 Billion

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Brookfield Asset Management Inc., this week agreed to sell all its Longview Timber holdings to Weyerhaeuser Co. Federal Way, Wash., for $2.65 billion, including assumption of debt. The company also reported last week (see June 13, 2013, Over the Wire) that it will sell its Longview Fiber Paper and Packaging operations to KapStone Paper and Packaging Corp. for $1.025 billion.

"While the timing of the (separate) sale transactions is coincidental, for investors in our funds these transactions represent monetization at excellent returns and puts each of these assets into the hands of strategic buyers who will be able to take them to the next level," Cyrus Madon, senior managing partner in Brookfield's Private Equity Group, said.


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