Maroc - TIMBERBIZ.COM.AU - A La Une - 15/Jul 00:51

Fiera to enter joint venture with Ngāi Tahu on NZ west coast

Fiera Comox Partners, an affiliate of Fiera Capital Corporation, has announced the signing of an agreement to enter a newly established joint venture with Ngāi Tahu Holdings relating to Ngāi Tahu’s forestry estate on the West Coast of New Zealand, South Island. Fiera Comox will acquire an 85% interest in the joint venture, with Ngāi Tahu retaining a 15% interest. Source: Timberbiz The estate is situated on approximately 45,500 hectares and consists primarily of radiata pine and Douglas fir plantation forests. The forests are sustainably managed under a Forest Stewardship Council certification. For Fiera Comox, the investment marks the initial acquisition by Fiera Comox’s Global Sustainable Timberland Strategy, which invests in high-quality, private forests globally. The Timberland Strategy is led by a team of highly experienced professionals who have acquired more than two million acres of timberland in transactions representing several billion dollars in value. Members of the team also have deep operational experience having run one of North America’s largest private timberland companies managing more than 1.5 million acres, driving significant improvements in safety, sustainability, and financial performance. “We are delighted to have the opportunity to partner with Ngāi Tahu in one of the most attractive and globally competitive softwood producing regions in the world,” Antoine Bisson-McLernon, Partner and CEO, Fiera Comox, said. “Our team has had significant success investing and creating partnerships in New Zealand, and we look forward to working with our partners at Ngāi Tahu in generating long-term sustainable value for the joint venture, West Coast communities, and the Ngāi Tahu people in recognition of their deep connection to the land.” Todd Moyle, Chief Executive, Ngāi Tahu Holdings, has welcomed the partnership saying they were looking forward to building a successful long-term relationship with Fiera Comox, which has an established track record of working with Indigenous groups in both New Zealand and Canada. The transaction remains subject to regulatory approvals.