Evergreen Seeks Expressions Of Interest In Estate
Evergreen Seeks Expressions Of Interest In Forestry Estate
Evergreen Forests Limited is to call for expressions of interest in its forestry estate and has mandated Forsyth Barr to undertake a competitive sale process.
The company previously announced that it was to seek advice from Forsyth Barr on asset sale and recapitalisation options. Several conditional expressions of interest have been received and the Board has determined that in the interests of all shareholders, a competitive trade sale should be pursued.
If the Board considers that following the receipt of binding proposals, it is in the best interests of shareholders to sell the company’s land and forest assets, a meeting of shareholders will be convened.
Forsyth Barr will be providing material to interested parties from next week and an Information Memorandum will be available soon after to qualifying parties upon signing a confidentiality agreement.