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Shares in Gunns (ASX:GNS) rose 3.85 per cent on Friday after the hardwood and softwood forest products company announced the sale of its Green Triangle plantation.

Shares gained almost 20 per cent at one point.

The company reached an agreement with a US based timber investment management organisation on the purchase of the softwood plantation estate, a sale that is expected to bring the company a return of $107 million.



Gunns (ASX:GNS) reported a net loss of $4 million in the second half of last year.