Canadian group purchasing Australian forests?
Dec. 8, 2014, Sydney – A Canadian investment group could be on the brink of purchasing one of Australia’s most valuable timber plantations.
According to a report from The Australian, Canada’s Public Sector Pension Investment Board is working on acquiring approximately $1 billion in forests owned by Hancock Timber Resource Group.
The Investment Board has already made significant purchases in the Australian market, with billions spent on property, agriculture and infrastructure assets put up for sale by federal and state governments.
The Investment Board is already in the process of purchasing other forestry assets in the region with the purchase of forest plantations from Harvard Management worth $2.15 billion in conjunction with New Zealand Superannuation and local Iwi tribes.
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