Hancock Natural Resource Group Inc., Global Forest Partners LP and Rayonier Inc in bidding war
Top bidding for Forestry Plantations Queensland Bloomberg reported last week that U.S.-based Hancock Natural Resource Group Inc., Global Forest Partners LP and Rayonier Inc. are among the top international contenders submitting bids for a 99-year lease to manage 210,000 hectares of plantations from Forestry Plantations Queensland. Citing a report in The Australian Financial Review, Bloomberg said bids were being submitted 19 February for the asset, the first to be sold under a privatization program for several state assets announced in June 2009 by Queensland Premier Anna Bligh.
The price tag the government put on the forestry asset last June was around AU$500 million which Bligh said at the time was to help keep the State’s massive building program going. According to the Australian Financial Review, the sale is expected to complete by June, Bloomberg noted. Source: http://www.forestweb.com/