The Rohatyn Group (“TRG”), a global asset manager specializing in emerging markets and real assets, has announced the sale of over 40,000 hectares of forest plantations in the departments of Tacuarembó and Rivera, in northern Uruguay, to Oji Uruguay Forest Company S.A.S. (“OUFC”), a subsidiary of the Japanese pulp and paper products manufacturer Oji Holdings Corporation (“Oji”). Oji is one of the world’s largest forestry, paper, and packaging companies.
The forest assets, consisting of pine and eucalyptus plantations, were acquired by TRG Forestry & Agriculture (“TRG F&A”) team in 2013. In December 2023, TRG entered into an asset transfer agreement with OUFC, finalizing the transaction on July 9, 2024.
Under TRG’s ownership, the plantations were managed for solid wood production, conducting thinning operations with logs primarily destined for export markets in China and India. TRG F&A was among the first to export logs from Uruguay via bulk shipping. Following the sale, TRG will continue to provide transitional management services to OUFC. Their ongoing involvement aims to maximize value, develop domestic processing in Uruguay, and support Oji’s environmental objectives.
Ian Jolly, a partner at TRG, remarked: “TRG remains a committed investor in Uruguayan plantations. This sale marks the culmination of a planned investment period, during which we take pride in our contributions to the development of the softwood timber industry, including the introduction of state-of-the-art softwood processing. It is an honor for TRG to assist Oji in establishing its presence in Uruguay. The acquisition by such a respected global forestry company underscores the value of this resource and enhances Uruguay’s status as a premier forestry investment destination. TRG looks forward to continuing its work in Uruguay’s forestry sector
Founded in 2002, TRG specializes in emerging markets and real assets. Headquartered in New York, the firm employs 160 professionals across 17 countries in North America, South America, Europe, the Middle East, Africa, India, Southeast Asia, and Oceania.
TRG F&A is comprised of an experienced team of investment professionals dedicated to acquiring and managing diversified portfolios of timberland or agricultural land for the benefit of its clients. With a value-oriented approach, TRG seeks to invest in assets at prices reflecting their biological yield potential. The team focuses on properties located in low-risk geographical areas with well-developed commercial forestry and agriculture, good title deeds, high-quality management, and adequate infrastructure.
Oji Uruguay Forest Company S.A.S. (“OUFC”), based in Uruguay, is a subsidiary of the Japanese pulp and paper products manufacturer Oji Holdings Corporation. OUFC has received investment approval from Uruguay’s Ministry of Livestock, Agriculture, and Fisheries and the Presidency.
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