NZL - Roc Partners Transaction Settlement

NZL is pleased to announce that the agreement to sell a 25% equity interest in its land portfolio to Roc Partners settled today for NZ$44.2m.

NZL’s 19 January 2024 market announcement outlines the key features of the Roc Partners transaction and can be found here: www.nzx.com/announcements/424985.

NZL will use some of the proceeds to immediately repay the NZ$11.8m convertible note that it drew down in April 2023 to partially fund its NZ$71.0m forestry acquisitions.

The balance of funds has been retained as working capital while NZL considers future growth and capital options.

An announcement of NZL’s preliminary full-year results will be made on or before 29 February 2024.

Transaction Completion

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024