CIC plans to buy Canadian timber assets

                               CIC plans to buy Canadian timber assets                

According to local media messages, CIC plans to spend about $100 million to buy 12.5% of the shares of Canadian timber assets owned by Spidem infrastructure department of  Brookfield asset management company.

It’s reported the timber assets is part of the assets owned by enclosed holding Irish company “Island Timberlandswhich”.The company’s joint owners are Brookfield infrastructure partnerships and other institutional investors. These timber assets including the permanent forest property right about 634000 acres (257000 hectares) on Vancouver Island.

Brookfield infrastructure partnership company is a listed company. In July,the company said to investors that it plans to spin off part of  timber assets and other assets. CIC is the world's fifth-largest sovereign wealth funds.