China looking to invest in Vancouver Island timber assets
The Wall Street Journal is reporting that China Investment Corp. (CIC) is close to buying a 12.5% stake in Island Timberlands for about $100 million.
Island Timberlands is jointly owned by a subsidiary, Brookfield Infrastructure Partners, and other institutional investors. Island Timberlands owns about 254,000 hectares of forest land on Vancouver Island.
China Investment Corp. is the Chinese government’s wealth fund that manages China’s massive foreign exchange reserves.
WSJ: CIC Close to Signing Timber Deal with Brookfield — Sources (Wall Street Journal)
China eyeing timberland on Vancouver Island (CBC)
Canada Tells China It’s Open for Business (Investing Daily)
- Brookfield selling 25% stake in Island Timberlands
- Island Timberlands delays logging the "Hump" area near Port Alberni, BC
- Human shield has prevented logging on Cortes Island for 3rd straight day
- Island Timberlands temporarily withdraws from Cortes Island, BC
- Coast Tsimshian Resources signs contract to sell logs to Chinese company
- FPAC urging Canada to deepen economic ties with China
- Canadian Institute of Forestry delegation in China
- China launches dissolving pulp anti-dumping investigation against Canada, Brazil, and USA