BOSTON, MA, June 16, 2009—The Hancock Timber Resource Group today announced the completion of the acquisition of approximately 75,000 acres of timberland in Georgia and Alabama from Austin Texas-based Forestar Group Inc.
The timberlands are located northwest of Atlanta near the Georgia-Alabama state line and are stocked primarily with southern pine.
“We are very pleased to acquire these highly productive timberland properties on behalf of our investors,” said Daniel P. Christensen, President, Hancock Timber Resource Group. “We continue to seek and secure excellent timberland transactions for our investors.”
The Hancock Timber Resource Group, a division of Hancock Natural Resource Group, Inc., an operating company of MFC Global Investment Management, manages more than five million acres of timberland worth approximately $8.5 billion across the United States as well as Brazil, Canada, New Zealand and Australia. Additional information about HTRG may be found at www.hancocktimber.com.
MFC Global Investment Management is the asset management arm of Manulife Financial Corporation. Based in North America with investment offices in Toronto, Boston, London, Tokyo, Hong Kong and Southeast Asia, the firm has more than 100 years of experience. Additional information about MFC Global Investment Management may be found at www.mfcglobal.com.
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners Funds under management by Manulife Financial and its subsidiaries were Cdn$405 billion (US$330 billion) as at December 31, 2008. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial may be found on the Internet at www.manulife.com.