Louisiana-Pacific's $1.1 bln Ainsworth purchase gives Brookfield big exit

U.S. forest products company Louisiana-Pacific Corp. (NYSE: LPX) has agreed to buy Ainsworth Lumber Co. Ltd., a Vancouver-based manufacturer of homebuilding products, in a deal valued at approximately US$1.1 billion, including debt. Brookfield Capital Partners, the private equity division of Brookfield Asset Management, which own 54% of the company, has agreed to vote in favour of the sale. Brookfield invested in Ainsworth's restructuring in 2008. Earlier this year, the firm reported combined proceeds of US$3.7 billion from the sales of Longview Timber LLC and Longview Fibre Paper and Packaging Inc.

CanadaNorth AmericaBriefs