03.03.2014 - Super Fund sells slice of forest to iwi
The New Zealand Superannuation Fund has sold a 2.5 per cent stake in New Zealand's largest forestry business Kaingaroa Timberlands to six central North Island iwi. The deal, which was done at an undisclosed price, will see the super fund reduce its stake in the business from 41.25 per cent to 38.75 per cent. The six iwi which include Ngati Rangitihi, Ngati Whakaue Assets and Te Arawa River Iwi Limited Partnership, Ngati Whare, Raukawa, Te Arawa Group Holdings Limited and Tuwharetoa, have formed Kakano Investment Limited Partnership to buy the stake...............................................Full Article: Source
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