Business / Published May 14, 2021

ARAUCO announces sale of forestry properties

Through an Essential Fact sent today to the Financial Market Commission, CMF, Empresas Copec reported the information provided by its subsidiary Celulosa Arauco y Constitución S.A., regarding the subscription of a sale agreement between its affiliate Forestal Arauco S.A. and Vista Hermosa Inversiones Forestales SpA, including 461 forestry properties comprising 80,489 total hectares, 61,742 of which are productive, for a total amount of US$385.5 million plus the corresponding VAT.

ARAUCO has preliminarily estimated that, if the transaction closes, it will positively impact its earning for 2021 or 2022, depending on the closing date of the transaction, for approximately US$192.5 million after tax, due to the sale of all of the properties.

Given Empresas Copec’s shareholding in ARAUCO, amounting to 99.98% as of this date, the impact on its financial statements will be of a similar amount.

To read the Essential Fact, click here.