Masisa S.A. (SNSE:MASISA) has put its forest assets up for sale. With the aim of strengthening and boosting Masisa’s new commercial strategy, with a focus on the Pacific and the end customer, the Board of Directors of Masisa agreed to initiate an open and competitive process for the sale of the forest assets that Masisa owns in Chile and Argentina. The Board of Directors considered that for this new focus vertical integration is not a determining factor, and that the process represents an opportunity to maximize the value of the forest assets and to generate tangible value for all Masisa's shareholders. Masisa has hired UBS Group AG (SWX:UBSG) as a consultant for the process. The value of these forest assets in books as of December 31, 2018 is approximately $535 million, of which $308 million correspond to plantations and $227 million to forest lands. Once the Board of Directors is clear about the magnitude of the funds it will receive from these sales, it will determine the most optimal financial structure for Masisa. The execution of the potential transactions with respect to the Forest Assets will be subject to the approval of the corresponding authorities or by current contracts subscribed by Masisa.