Rayonier to lift stake in Matariki Forestry to 77% by repaying US$160M of debt

Wed, 05 Aug 2015

By Jonathan Underhill Aug. 6 (BusinessDesk) - Rayonier, which manages 2.7 million acres of forests in the US and New Zealand, plans to increase its holding in Matariki Forestry Group to 77 percent from 65 percent with a US$160 million capital infusion that will be used to repay debt. Rayonier's partner in Matariki, New Zealand's third-largest forestry estate with more than 169,000 hectares of plantations, is Phaunos Timber Fund, a Guernsey-registered, London Stock Exchange-listed investor in timberland and wood processing that was launche...

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