Rayonier exits NZ forestry business
US company sells 77% stake in Matariki Forestry Group for $1.24b.
Rayonier owns or leases 166,730ha in New Zealand.
New York Stock Exchange listed forestry company Rayonier has announced the sale of its 77% stake in New Zealand’s Matariki Forestry Group and associated management company for US$710 million ($1.24 billion).
In a statement to the NYSE on March 10, Rayonier said the deal concluded a strategic
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