Tembec sells land in BC
By CNW Telbec
Nov. 25, 2013, Montreal - Tembec announced the closing of the sale of approximately 7,150 hectares of land located within the Regional District of East Kootenay, British Columbia, to Teck Resources Limited, which sale was previously announced on October 17, 2013. Total consideration for the transaction was $19 million.
The transaction is part of the previously announced BC Land Sale Initiative. The company has set an objective of realizing up to $75 million in land sales by December 2014. To date, the company has realized a total of $23.2 million. The company will provide regular updates on the BC Land Sale Initiative as it progresses.