| Decision | Consent granted Sections 12(b) and 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 3 June 2025 |
| Pathway | Special forestry (One-off purchase) |
| Investment | An overseas investment in sensitive land and significant business assets, being the Applicant’s acquisition of 100% of the shares in Rayonier Canterbury LLC and Rayonier New Zealand Limited – being significant business assets which include an indirect interest in the Land (through Rayonier Canterbury LLC’s 76.99% interest in Matariki Forestry Group). |
| Consideration | $1,250,000,000 1 |
| Applicant | Taurus Forest Holdings Limited Singapore 99% United States of America 1% |
| Vendors | Rayonier Operating Company LLC (as regards to Rayonier Canterbury LLC) Rayonier TRS Holdings Inc. (as regards to Rayonier New Zealand Limited) United States of America 68% Norway 8% United Kingdom 7% Canada 3% Switzerland 2% Various 12% |
| Background | The Applicant is controlled by certain entities within The Rohatyn Group (TRG), however the Applicant is indirectly majority owned by an affiliated investment holding company of GIC Private Limited. Entities controlled by TRG have substantial forestry assets and experience in New Zealand. The Applicant is acquiring entities that hold Rayonier Group’s 77% joint venture interest in the Matariki Forestry Group. Through this it will acquire interests in approximately 154,552 hectares of land being 47% freehold, 23% Crown Forestry Licences and 30% forestry rights over 76 forests located across five regions in New Zealand. The land to be acquired is currently used for existing forestry (predominantly in at least second rotation) and this use will continue. Consent was granted as the Applicant has met the investor test and the special forestry test. The Minister of Finance has determined that the Investment is not contrary to New Zealand’s national interest. |
| More information | Sherryn Harford Mayne Wetherell PO Box 3797, Shortland Street Auckland |
1 This figure represents the approximate value in NZD of the purchase price of USD710,000,000 as at 19 March 2025.