----- Original Message -----
Sent: Tuesday, July 03, 2001 2:24
AM
Subject: Re: [sharechat] chh
Thanks for that ,
what i meant was would ffs meet the
highest bid assuming it is an open
tender ??.
also the cnif
provides economy of scale for ffs
assuming they can find a partner , or
raise the rest of the finance,and im sure
they can more than meet their existing demand
with their remaining forest ,but without cnif , it
being a maturing forest they might not be in a
position to capitalise on any future rise in the price
of logs , manufactured timber products (
assuming that happens in the next couple of years) i
guess it depends if ffs thinks they
can invest the money they hold
entwined in the cnif better than bidding
for more forestry assets. i would be interested to
know what people think they
would do with the remaining cash if
they dont retain the forest in
question . regards Mike G
----- Original Message -----
Sent: Sunday, July 01, 2001 1:28
PM
Subject: Re: [sharechat] chh
CITIC have offered the receivers US$637m for
the CNIFP forest according to today's article in the Sunday
Times:
Mike, FFS have no say in who gets the
forest as it is in the hands of the receivers. If the Commerce
Commision clear CAH to buy the forest subject to divesting a portion, then
CAH can buy it and then on sell the portion at a later date (perhaps to
FFS).
McFadgen has already said that FFS can more
than meet its existing demand with its own forest estates.
Disc: Hold
FFS/PA
See IRG research reports
