24 Dec 2009
Matariki Forests is pleased to announce that it has signed an agreement with Phaunos Timber Fund Limited for a NZD 167 million investment in the Matariki Forestry Group, subject to New Zealand’s Overseas Investment Office approval.
Phaunos Timber Fund Limited is a global timberland and timber related assets investor listed on the Main Market of the London Stock Exchange and managed by FourWinds Capital Management based in Boston.
Paul Nicholls, Managing Director of Rayonier New Zealand Ltd, forest managers for Matariki, said the company welcomed the Phaunos investment as it underlined the positive outlook for the company. He said the company was looking forward to working with the very experienced Phaunos team who bring with them considerable international timberlands investment knowledge.
About Matariki:
Matariki Forests is owned by a consortium and managed by Rayonier New Zealand, a subsidiary of Rayonier Inc
About Phaunos
Website:www.phaunostimber.com
Phaunos Timber Fund Limited (“The Company”) is a Guernsey-domiciled Authorised Closed-ended investment. The Company’s objective is to provide shareholders with attractive long term total returns, expected to be in the form of capital appreciation but with some income, through a diversified portfolio of timberland and timber-related investments. Investments are managed by FourWinds Capital Management. The Company ticker is PTF.
Distributed by Donovan Boyd Communications on behalf of Rayonier NZ. For further information please contact :
Liane Donovan, Donovan Boyd Communications : Tel: (09) 379 2121 / Mob: 027 222 7348