The Overseas Investment Office has granted consent for
private infrastructure company Fulton Hogan to sell almost
5000ha of Otago forestry blocks for an undisclosed sum.
The sale is part of a divestment by Fulton Hogan of non-core
assets, including land in Queenstown, after its annual
after-tax profit plunged from $73.9 million a year ago to
$7.9 million on the back of multiple problems within its
The forestry blocks were sold to Forestry Fund 9 NZ Ltd,
whose sole shareholder is GMO Forestry Fund 9, LP, of
Wilmington, Delaware, the United States, according to
Companies Office records.
The blocks sold are at Waitahuna (656ha), Glenore (2019ha),
Falla Burn (434ha), Wetherstons Rd (739ha), Nugget Stream
(353ha), Scroggs Hill (185ha), Christies Gully (89ha) and
Moeraki Bush (343ha).