NZ Super Fund sells forestry blocks to Chinese, local investors

Wed, 24 Apr 2013

By Paul McBeth April 24 (BusinessDesk) - The New Zealand Superannuation Fund, which today said the value of its portfolio topped $22 billion, has sold the bulk of 11 forestry blocks in the North Island to China National Forest Products Trading Corp for an undisclosed sum, with the remaining going to local investors. The Chinese company, a subsidiary of state-owned China Forestry Group Corp, bought the majority of the portfolio, subject to Chinese regulatory approval, after getting the thumbs up from New Zealand's Overseas Investment Office,...

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