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AbitibiBowater Sells Quebec Timberland For $53 Million

AbitibiBowater has completed the sale of approximately 121,000 hectares (300,000 acres) of private timberland in Quebec for $53 million in cash. The company plans to use the proceeds from this sale fo…

AbitibiBowater has completed the sale of approximately 121,000 hectares (300,000 acres) of private timberland in Quebec for $53 million in cash. The company plans to use the proceeds from this sale for general corporate purposes.

Timberlands located in the Mauricie, Charlevoix, and Saguenay regions were sold to two newly formed limited partnerships held by Societe de gestion d’actifs forestiers Solifor, s.e.c. Timberlands located in the Cote-Nord region were sold to Amenagements forestiers Portneuf (3908666 Canada Inc.).