Rohatyn Group has sold over 40,000 hectares of forest plantation in the Tacuarembó and Rivera departments in the northern part of Uruguay to Oji Uruguay Forest Company. The acquisition has reinforced Uruguay’s status as a prime forestry investment destination.
Jul 25, 2024
The Rohatyn Group, a global asset manager specializing in emerging markets and real assets, has announced the sale of over 40,000 hectares of forest plantation in the Tacuarembó and Rivera departments in the northern part of Uruguay to Oji Uruguay Forest Company (OUFC) S.A.S., a subsidiary of Japanese pulp and paper products manufacturer Oji Holdings Corporation – one of the largest forest, paper, and packaging companies in the world.
As per a release issued by the Rohatyn Group, the forestry assets, consisting of pine and eucalyptus plantation forests, were acquired by the TRG Forestry & Agriculture team in 2013. In December 2023, TRG entered into an asset transfer agreement with OUFC and subsequently closed the transaction on July 9, 2024.
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During TRG’s ownership of the asset, the plantations were managed for solid wood production, developing commercial thinning operations with logs mainly destined for the export markets of China and India. The TRG F&A team was among the first to export logs from Uruguay via break bulk shipping. After closing, TRG will continue providing transitional management services to OUFC. TRG’s continued involvement in the management of the property aims to maximize value, develop domestic processing in Uruguay, and help meet Oji’s environmental targets.
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TRG Partner Ian Jolly commented, “TRG remains an enthusiastic investor in Uruguay plantations. This sale comes at the end of a planned investment period, during which we have been proud of the contributions we have made to helping the softwood industry develop, including the introduction of state-of-the-art softwood timber processing. TRG is honored to be assisting Oji with its move into Uruguay. The acquisition by such a well-respected global forestry company highlights the value of this resource and reinforces Uruguay’s status as a prime forestry investment destination. TRG looks forward to continuing its work in this country’s forestry sector.”
