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Weyerhaeuser to sell Mont. timberlands for $145M

Weyerhaeuser Co. agreed to sell 630,000 acres of timberland in Montana to an undisclosed private timberland investment company for $145 million in a cash.

The property includes a diverse mix of softwood species and an existing 110,000-acre conservation easement.

The transaction is subject to customary closing conditions and is expected to complete in the second quarter of 2020.

The company said its three manufacturing facilities in Montana are not part of the transaction.