Fidelity National Financial, Inc. Acquires a Controlling Interest in Cascade Timberlands LLC
Fidelity National Financial, Inc., a Fortune 500 provider of outsourced products and services to a variety of industries, today announced that it has acquired an approximately 70% controlling interest in Cascade Timberlands LLC ("Cascade Timberlands").
The primary assets of Cascade Timberlands are approximately 293,000 acres of productive timberlands, known as Oregon tree farm, located on the eastern side of the Cascade mountain range extending from Bend, Oregon south on State Highway 20 toward the California border. Cascade Timberlands was created by the secured creditors of Crown Pacific LP upon the conclusion of the bankruptcy case of Crown Pacific LP in December 2004.
"We intend to review all twenty-six properties in the Oregon tree farm and determine the optimal use for each property on its own and in relation to the other properties," said Chairman and Chief Executive Officer William P. Foley, II. "This may entail utilizing the timber assets themselves, conservation and preservation of the land or the exploration of other alternative development uses for the timberland. We have also had preliminary conversations with Deschutes Basin Land Trust concerning the Skyline Forest section of the timberlands and we will continue to work with that Land Trust in pursuit of our respective goals."