The Forest Company raises USD 67 millionJun 01, 2011 18:32
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St Peter Port, Guernsey, Wednesday, June 1st, 2011 - The Forest Company Limited, an investment company incorporated and registered in Guernsey, announces the successful initial closing of a Private Offering of Shares on May 27st, 2011. The final close of this round is scheduled for August 5th, 2011.
The Forest Company raised USD 67 million in the initial close of its third private placement. The funds raised will be deployed in new and existing forest investments in Brazil and Colombia. The company has developed a large pipeline of projects and is currently in the process of negotiating a number of attractive investments. The pipeline consists of several new opportunities in areas with exceptional biological growth rates that can all be managed according to the high environment and social standards that have become a trademark of The Forest Company.
Harald Örneberg, founder of The Forest Company and CEO of Timber Capital Limited, the Company's investment manager, said: On behalf of The Forest Company I would like to thank our existing and new investors for their continued support and endorsement of our investment strategy. We continue to see very attractive opportunities in Brazil and Colombia, supplying the expanding forest and paper products industry with a reliable long term wood fibre source.
About The Forest Company:
The Forest Company combines socially and environmentally responsible forestry investments with unique potential for stable and attractive returns through participation in the value chain of competitive and sustainable industries.
The Forest Company Limited is a closed-ended investment company, incorporated and registered in Guernsey in 2007, in order to take advantage of investment opportunities in trees, timberland and timber related assets. The Company focuses on forest plantations in areas with high biological growth rates, such as Brazil and Colombia. As of May 27th, 2011, The Forest Company has raised USD243 million in equity capital through private placements to institutional investors and family offices. Thus far, the Company has committed capital to four projects, which include both greenfield and standing plantations located in Brazil and Colombia.
The Company aims to build a diversified timberland portfolio in terms of age, class and species that is intended to maximise the risk/return profile. The Company believes that this approach will generate both long-term capital appreciation for shareholders and an attractive and sustainable income yield. For more information, visit www.theforestcompany.se.
Timber Capital Limited is the investment manager to The Forest Company.
For additional information, please contact:
Vielcka D. Dutt, The Forest Company, +1 441 295 4736
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Securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States. No offer is directed at individuals whose participation would require additional prospectus, registration or other measures beyond those prescribed by Swedish law, or would violate applicable rules in such countries. Any Prospectus or application form relating to any offer, may not be distributed in any country in which the distribution of an offer or any offer itself requires measures as outlined above, or are contrary to the regulations in such countries.