Forester Gunns to sell softwood forests in Australia's Green Triangle
Australian timber group Forester Gunns is to sell some of its softwood forests for AU$107 million (£69 million).
The sale to a US-based timber investment management organisation includes 46,000ha with pine trees in the Green Triangle region of South Australia, with Forester Gunns retaining some harvesting rights to the plantations.
It is understood that the deal is subject to the buyer securing finance and other customary approvals. Forester Gunns has declined to provide further details about the agreement or the buyer.
Exclusive: OneWest gains a ray of hope for Paulson in glum times
(Reuters) - John Paulson's roll of the dice on a lender that rose from the wreckage of the financial crisis is emerging as one of the few big winners for the hedge fund manager in what is shaping up as a downbeat year.
Oxenøen, Norway, May 3, 2011 - Norske Skog sells forest areas in Brazil as part of the work to improve the company's financial position
Norske Skog has entered into an agreement with CMNPAR Four Participacoes S.A., a Brazilian company advised by Global Forest Partners LP, a US based, SEC registered investment advisor, for the sale of around 21 500 hectares of forest in Brazil, of which 10 500 hectares are productive forest.
More Thoughts on Foreign Investments in Timberland
My last post generated a couple of comments that referenced FIRPTA (Foreign Investment in Real Property Tax Act) and the likely impact that the law would “keep Asian demand in U.S. timberland muted”. The law has been around since 1981 so I thought that I would take a look at what the impact of foreign investment on timberland has been to date.
The government's announcement that it is postponing the sale of 15 per cent of the Forestry Commission estate, in order to review the site-by-site criteria for disposal is a first victory in the massive grass-roots anti-privatisation campaign.
Timber REIT (FTR) Index of public timber REITs (Real Estate Investment Trusts)
has returned 24.10% year-to-date compared with 5.69% for the S&P 500 (as of February 11, 2011) reports Forisk consulting at their blog.