China eyes BC timberland
Reports say that China is preparing to invest about $100 million in timber assets mainly on Vancouver Island.
By John Tenpenny
CBC.ca is reporting that The Wall Street Journal said China’s government wealth fund, the China Investment Corp., is negotiating with Toronto-based Brookfield Asset Management for a 12.5 per cent stake in Island Timberlands, which owns about 254,000 hectares of forest land.
Without identifying its sources, it said a deal could be announced as early as this week.
Island Timberlands is jointly owned by a subsidiary, Brookfield Infrastructure Partners, and other institutional investors.
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