Consortium led by BTG Pactual’s Timberland Investment Group, along with British Columbia Investment Management, and APG, agreed to acquire Chilean timberland assets of Celulosa Arauco y Constitucion, a Chilean wood pulp, engineered wood and forestry company, for $386m. The transaction is comprised of approximately 80.5k hectares of high-quality, sustainably-managed timberlands in the central and southern regions of Chile and will establish the consortium’s timberland presence in the country. “The Timberland Investment Group has been searching for an opportunity to establish our presence in Chile for more than a decade. This transaction offers both the scale and high-sustainability requirements we’ve been looking for and we are pleased to be investing alongside BCI and APG, two of the world’s leading institutional investors," Gerrity Lansing, BTG Pactual Head of TIG and MD Partner.