Rayonier Exits NZ Market in $1.24 Billion Deal

Rayonier Inc. (NZX: RYN) is set to exit New Zealand after 36 years, selling its 77% stake in a forestry joint venture for US$710 million (NZ$1.24 billion). The deal, struck with its joint venture partner The Rohatyn Group (TRG), transfers Rayonier’s holdings to a company formed by Ents LP, an investment fund managed by TRG.

The transaction values the NZ joint venture at US$922 million, covering the management of 116,145 hectares of forestry land. Rayonier’s decision to divest aligns with its strategy to refocus on growth opportunities in the United States. The exit marks a significant shift in NZ’s forestry sector, with TRG reinforcing its presence in the market. The deal is expected to close following regulatory approvals.

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