FERRERE advised on acquisition of 4,500 hectares of forested land in the departments of Cerro Largo and Lavalleja for forestry projects.
The transaction amounted to USD18 million and the property was acquired by the financial trust Bosques del Uruguay II. This transaction completes the deal that had begun in June 2015, when the trust acquired 3,000 forested hectares of land in the department of Cerro Largo for approximately USD10 million.
Bosques del Uruguay II is a forestry financial trust traded on Montevideo’s electronic securities exchange Bolsa Electrónica de Valores, aimed at investing USD70 million in land and forests in Uruguay. Its purpose is the sustainable plantation of Eucalyptus, for production of 3.6 million cubic meters of wood for sawmilling, pulp and energy in the Uruguayan and international markets.