Satisfaction Of Two Further Conditions Under CNIFP
Fletcher Challenge Forests Announces Satisfaction Of Two Further Conditions Under CNIFP Assets Purchase Agreement
Auckland, 29 July 2002 – Fletcher Challenge Forests announced today that it had obtained the consent of the Overseas Investment Commission to the acquisition of the assets of the Central North Island Forest Partnership, and that Land Information New Zealand had agreed to the assignment of the Crown Forestry Licences (under which the bulk of the CNIFP forests are held) to the Company.
The remaining regulatory approval being sought by Fletcher Challenge Forests is clearance under the Commerce Act. A response from the Commerce Commission is expected prior to the Special Meeting of Shareholders on Tuesday 13 August 2002.