Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Price Confirmed for Tahorakuri Forest Estate

1 August

STOCK EXCHANGE LISTINGS: NEW ZEALAND, AUSTRALIA, NEW YORK (FFS).


US$64 Million Purchase Price Confirmed for Tahorakuri Forest Estate

Fletcher Challenge Forests announced today that Jaakko Poyry had finalised its independent valuation of the Tahorakuri forest estate (Tahorakuri) at US$63.8million. The Company’s agreement with Rubicon Limited provides for an adjustment mechanism should an independent valuation performed by Jaakko Poyry determine a valuation greater than US$66 million or less than US$62 million.

Mr Terry McFadgen the Chief Executive Officer of Fletcher Challenge Forests said, “The finalisation of the Jaako Poyry report now confirms the agreed sale price to Rubicon. No adjustment will be required to the previously announced sale price of US$64 million. The Jaakko Poyry report is also consistent with the findings of Grant Samuel & Associates, who valued Tahorakuri at between NZ$130 and NZ$140 million.”

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

EU Wine Exports: Peter Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO:

Science: Legendary Telescope Being Brought Back To Life

One of the world’s most famous Victorian telescopes will be restored and available for public viewing in Takapō after spending five decades in storage... The Brashear Telescope was used in the late 1800s by Percival Lowell for his studies of Mars. More>>