Hart’s CHH netted US$38.6M in forestry saleFriday 20 Apr 2012 Carter Holt Harvey, which reportedly refinanced $1.45 billion of debt last year, sold forestry assets near Tokoroa for some US$38.6 million, according to the purchasing company’s financial statements.Te Waihou Plantations, a subsidiary of GTI 9 Investment Acquisition Co which is managed by US-based Global Forest Partners, purchased US$38.6 million of forestry assets in the 14 months ended Dec. 31, according to statements filed with the Companies Office. The company was incorporated on Nov. 15, 2010, and had no forest assets at the start of its balance date. During that period, it bought some 17,300 hectares of land, made up of 18 blocks near Tokoroa, from Carter Holt Harvey HBU for an undisclosed sum. Te Waihou will acquire the land progressively as the existing trees were harvested under forestry rights held by a third party, according to the Overseas Investment Office consent for the purchase in February last year. More >> |
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