INDEPENDENT NEWS

No Offer On Table From Citic

Published: Thu 11 Apr 2002 03:19 PM
April 11, 2002
Statement made by Sun Xinguo, Managing Director, CITIC Forests ( NZ ) Ltd
Contrary to speculation, CITIC does not have a back up offer in place should Fletcher Forests not execute the purchase of the assets of the Central North Island Forest Partnership.
CITIC was a party to discussions with the receiver over the future of CNIFP’s 190,000ha forestry assets.
However, it has no agreement with the receiver or knowledge of a backup agreement.
Ends

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