AbitibiBowater completes sale of 121,000 hectares of Quebec timberlands

AbitibiBowater announced today that it has completed the sale of approximately 121,000 hectares (300,000 acres) of private timberlands in Quebec, Canada, for C$53 million in cash.

AbitibiBowater 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.).

Source: AbitibiBowater