|
About 62,000 acres of Mead-Westvaco forestland in West Virginia is now in the hands of Penn Virginia Operating Company, L.L.C.
The sale of the land, which is expected to be complete in the third quarter of this year, is part of Mead-Westvaco's land management strategy.
It was not learned in which county(s) the woodlands are located.
Mead-Westvaco recently announced an agreement with Wells Timberland REIT to sell about 228,000 acres of owned forestland and approximately 95,000 acres under long-term timber contracts.
The total consideration from these sales is $493.1 million. The company intends to return the value obtained to its shareholders.
| 
