Kirkland & Ellis LLP is representing Boise Cascade, LLC in the sale of about 2.2 million acres of timberlands in the United States to Forest Capital Partners LLC for $1.65 billion in cash. The deal was announced on Dec. 21, 2004.
The land that the Boston-based timber management company is purchasing is located across the Pacific Northwest, Louisiana, Alabama and Minnesota. According to Forest Capital, this is the single-largest cash timberlands sale in history.
Proceeds from the sale will be used to reduce Boise’s outstanding debt. The transaction is expected to close in the first quarter of 2005.
On Oct. 29, Boise Cascade Corporation (now doing business as OfficeMax, Inc.) sold its paper, forest products and timberlands assets to Boise, a subsidiary of Madison Dearborn Partners LLC, a Chicago-based private equity firm, for approximately $3.7 billion.
Partners Bradley V. Ritter, Jeffrey W. Richards and Richard J. Campbell represented Boise in this complex deal.
“Kirkland represents clients in negotiating some of the most difficult and important deals in the world,” Ritter said. “This complex deal was indicative of the kind of work that the Firm does.”
About Kirkland & Ellis LLP
Kirkland & Ellis LLP is a 1,000-attorney law firm representing global clients in complex real estate, corporate and tax, litigation, intellectual property and workout, insolvency and bankruptcy matters. The Firm has offices in Chicago, London, Los Angeles, Munich, New York, San Francisco and Washington.
About Boise Cascade, LLC
Boise, headquartered in Boise, Idaho, provides solutions to help customers work more efficiently, build more effectively, and create new ways to meet business challenges.
Boise Building Solutions, Manufacturing, headquartered in Boise, Idaho, is a subsidiary of Boise and manufactures plywood, lumber, particleboard, and engineered wood products.
Boise Building Solutions, Distribution, headquartered in Boise, Idaho, is a subsidiary of Boise and operates 27 facilities that distribute a broad line of building materials, including wood products manufactured by Boise.
Boise Paper Solutions, headquartered in Boise, Idaho, is a subsidiary of Boise and a manufacturer of office papers; printing, forms, and converting papers; value-added papers; newsprint; containerboard and corrugated containers; and market pulp. Visit the Boise website at http://www.bc.com/.