CHILE – With the aim of strengthening and boosting Masisa’s new commercial strategy, with a focus on the Pacific and the end customer, the Board of Directors agreed to initiate an open and competitive process for the sale of the forest assets that Masisa owns in Chile and Argentina.

The Board of Directors considered that for this new focus vertical integration is not a determining factor, and that this process represents an opportunity to maximize the value of the forest assets and to generate tangible value for all the Company’s shareholders. Masisa has hired UBS Investment Bank as a consultant for this process.

The forest assets subject to de sold consist of 56,190 hectares of forests in Chile, planted mainly with pine, and 54,398 hectares of forests in Argentina, planted with eucalyptus and pine.

The value of these forest assets in books as of December 31, 2018 is approximately USD 535 million, of which USD 308 million correspond to plantations and USD 227 million to forest lands.

Once the Board of Directors is clear about the magnitude of the funds it will receive from these sales, it will determine the most optimal financial structure for Masisa.

The execution of the potential transactions with respect to the Forest Assets will be subject to the approval of the corresponding authorities or by current contracts subscribed by the Company.

The president of the board, Andreas Eggenberg, said that the priority will be placed on the commercial strategy in markets such as Colombia from its productive base in Chile and Mexico, as well as to intensify Masisa’s digital transformation.