The Campbell Group to Buy 1.55 Million Acres of Timberland from Temple-Inland, Inc.
PORTLAND, OREGON - August 6, 2007 - The Campbell Group, a Portland, Oregon-based timber investment management firm, today announced it has signed a definitive agreement with Temple-Inland Inc. to purchase approximately 1.55 million acres of timberland primarily located in the states of Texas, Louisiana with a smaller portion in Georgia and Alabama. The transaction is expected to close in fourth quarter 2007.
John Gilleland, president of The Campbell Group, said, "The Temple-Inland forests represent some of the best managed, highest quality industrial timberlands in the world. Acquiring these forests enables our firm to further its strong commitment to timberland as a long-term asset class, and to continuing our history of sound environmental stewardship. We are looking forward to managing these lands responsibly and to producing the best product for our customers and quality results for our clients.
Morrison & Foerster LLP and Schwabe, Williamson & Wyatt served as legal advisors to The Campbell Group in connection with the transaction. Goldman, Sachs & Co., and Citigroup Global Markets Inc. served as financial advisers and Sutherland, Asbill & Brennan LLP served as legal advisor to Temple-Inland in connection with the transaction.
The Campbell Group, LLC (www.campbellgroup.com) is a full-service timberland investment management company headquartered in Portland, Oregon. The company is focused exclusively on acquiring and managing high quality, investment grade forestland on behalf of institutional investors to produce superior risk-adjusted returns.
Temple-Inland Inc. operates four business segments: corrugated packaging, forest products, real estate and financial services. Temple-Inland's common stock (TIN) is traded on the New York Stock Exchange. Temple-Inland's address on the World Wide Web is www.templeinland.com.
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