The Wall Street Journal is reporting that China Investment Corp. (CIC) is close to buying a 12.5% stake in Island Timberlands for about $100 million.
Island Timberlands is jointly owned by a subsidiary, Brookfield Infrastructure Partners, and other institutional investors. Island Timberlands owns about 254,000 hectares of forest land on Vancouver Island.
China Investment Corp. is the Chinese government’s wealth fund that manages China’s massive foreign exchange reserves.