Prutimber buys New Zealand Forest.PRUTIMBER BUYS NEW ZEALAND New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. FOREST. Prudential Timber Investments Inc. (PruTimber). Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New , USA, has reached an agreement as part of the Kiwi Group Consortium to acquire a portion of the 264,000-acre Fletcher Challenge pine forest estate in New Zealand on behalf of investors. The consortium includes Kiwi Forests Group Ltd., OTPP OTPP Ontario Teachers' Pension Plan (Canada) OTPP Other Than Private Passenger (commercial insurance business) New Zealand Forest Investments Ltd., and Viking Global New Zealand Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of a fund PruTimber manages on behalf of institutional investors. While the consortium has combined resources to reach the agreed-upon price of NZ$ 725 million (US$ 471.3 million), each group will acquire its own portion of the total assets PruTimber plans to acquire approximately 162,000 acres of high quality pine plantations in and around the Central North Island of New Zealand. |
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