Lawyers and accountants join NSW study
Wednesday 30 Oct 2019In Australia this week the NSW Treasury has mandated law firm Minter Ellison and KPMG to help with a scoping study for the state's commercial softwood plantations. The two firms join investment bank UBS in helping the state consider options for the assets, including a potential sale.
The commercial softwood plantations are housed inside NSW's Forestry Corporation.
When NSW Treasurer Dominic Perrottet announced the scoping study in August, he said it would seek to determine whether the commercial softwood business was best managed by the government or a private operator.
The scoping study is expected to include talks with potential buyers, including specialty forestry funds and domestic and offshore pension funds which already have significant investments in the sector.
It will focus on Forestry Corporation's profitable softwood division, which consists of about 230,000 hectares of radiata pine forests, primarily producing timber for use in house construction. The plantations - which are located in the central west, south and north of the state - employ about 190 staff.
Source: Financial Review
Copyright 2004-2019 © Innovatek Ltd. All rights reserved.