Brookfield Infrastructure (BIP) is selling its interest in its timberland operations for $790M....

|About: Brookfield Infrastructu... (BIP)|By:, SA News Editor

Brookfield Infrastructure (BIP) is selling its interest in its timberland operations for $790M. "The sale of our timberland assets was an opportunity to further our strategy of monetizing lower yielding assets to recycle capital into our utilities, transport and energy businesses. These transactions enabled us to monetize our remaining timberland assets at attractive prices reflecting their most recent third-party appraisals. With our strong pipeline of investment opportunities, we will seek to re-invest these proceeds at our targeted, after-tax return on equity of 12-15% per annum." (PR)