Forestar Group (FOR) Sells 20K Acres of HBU Timberland for $39.5M
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Forestar Group Inc. (NYSE: FOR) entered into a definitive agreement with Holland M. Ware, to sell approximately 20,000 acres of HBU timberland in Georgia for approximately $39.5 million in a cash transaction.
The transaction is expected to close third quarter 2009. The company intends to use proceeds from this sale to reduce debt.
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