Greif, inc. completes the sale of timberlands to weyerhaeuser company

Delaware, ohio, april 30, 2021 /prnewswire/ -- greif, inc. (nyse: gef, gef.b), a global leader in industrial packaging products and services, today announced that it has completed its previously announced sale of 69,200 acres of timberlands in southwest alabama to weyerhaeuser company (nyse: wy) for approximately $149 million in cash. proceeds from the sale will be used for debt repayment and will accelerate the transfer of greif's enterprise value from debt to equity holders in line with the company's stated financial priorities.
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