Greif Inc (GEF) Announces Agreement to Sell 69,200 Acres of Timberlands to Weyerhaeuser Company (WY)
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Greif, Inc. Announces Agreement to Sell 69,200 Acres of Timberlands to Weyerhaeuser Company
February 25, 2021 7:30 AM ESTDELAWARE, Ohio, Feb. 25, 2021 /PRNewswire/ --Â Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced an agreement to sell 69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company (NYSE: WY) for approximately $149 million in cash. Proceeds from the transaction will be applied to debt repayment. While this transaction is subject to tax, the Company has tax losses from other transactions which will substantially mitigate the tax associated with this land sale.
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