Brookfield Asset Management has sold its 45 percent interest in Acadian Timber Corp (TSX: ADN), a Vancouver-based supplier of primary forest products. The private deal reflected a consideration of about $128 million in cash. The buyer was Macer Forest Holdings Inc. As a result, Brookfield Managing Partner Ben Vaughan has resigned as Acadian's chair. Brookfield Timberlands Management LP will continue as the company's external manager. Acadian owns and manages about 1.1 million acres of timberlands in New Brunswick and Maine, and provides management services for about 1.3 million acres of Crown-licensed timberlands.
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