Weyerhaeuser May Sell Mortgage Unit

Tue., Sept. 24, 1996

From Staff And Wire Reports

Weyerhaeuser Co. said Monday it has retained the Goldman, Sachs & Co. investment banking firm to explore its options for the Weyerhaeuser Mortgage Co., including a possible sale.

Weyerhaeuser Mortgage, based in Woodland Hills, Calif., has 1,500 employees in 58 offices in 15 states.

“We believe that this is a strong business whose customers and employees may better benefit from ownership that is more strongly focused on financial products,” said John W. Creighton Jr., president and chief executive.

Weyerhaeuser did not comment on the timing of the move or a potential sales price.

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Weyerhaeuser May Sell Mortgage Unit

Jesse Tinsley

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