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Matariki Forests Appoints Advisors To Manage Sale

Contributor:
Fuseworks Media
Fuseworks Media

10 September 2008 - Matariki Forests has today announced the appointment of First NZ Capital/Credit Suisse to manage the sale of their New Zealand assets. Matariki Forests owns the third largest forest estate comprising approximately 140,000 hectares of high quality Radiata Pine well distributed throughout New Zealand.

Paul Nicholls, Managing Director of Rayonier New Zealand Ltd forest managers for Matariki, said that there had already been significant interest from both local and overseas companies.

"The market is turning and providing favourable conditions for potential buyers from around the globe and we anticipate there will be considerable interest in Matariki Forests."

Rob Hamilton, Managing Director of First NZ Capital said they would be implementing a comprehensive marketing programme that would target potential buyers around the world, and particularly across Australasia, Asia and North America.

"Forestry continues to be an attractive asset class and New Zealand is an important component of a diversified international timberland investment portfolio. We will be highlighting this and the many positive features of Matariki Forests to potential buyers over the next few months."

Simpson Grierson has been appointed as legal advisors for the sale process.

Matariki Forests is owned by a consortium and managed by Rayonier New Zealand, a subsidiary of Rayonier Inc.

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