IP to Divest 143,000 Acres in Southeast

International Paper announced on March 2 that it plans to sell off 143,000 acres in the Southeastern US in a transaction valued at approximately $275 million.
IP will sell 114,000 acres to American Timberlands Fund I, L.P., for $220 million in cash and contribute 29,000 acres with a value of $55 million for a 20 percent stake in the partnership. The transaction is expected to close in mid-June.