Masisa sell’s non-strategic assets for USD 81.2 million

Details

CHILE - As of December 31, 2015, Masisa has concluded assets sales amounting to USD 81.2 million of its non-strategic assets divestment plan announced in September 2015. 

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Sales concluded comprise the following groups of assets:

  • Sale of 19% of equity of Hancock Chilean Plantations SpA for USD 44.2 million.
  • Standing timber (stumpage) sales in Chile totaling USD 15.5 million.
  • Real estate sales in Chile and México totaling USD 17.3 million.
  • Sale of non-core, non-strategic businesses in Mexico and Brazil amounting to USD 4.2 million.

Masisa continues with its assets divestment process according to plan and expects to receive proceeds amounting to at least USD 100 million by the end of the first quarter of 2016. Funds collected through this plan will be use to reduce the company’s debt.

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