Rubicon In Discussions With Fletcher Challenge Forests
Auckland, 20 May, 2002 - Rubicon Limited today confirmed that it is in discussions with Fletcher Challenge Forests
Limited (FCF) in relation to FCF’s declared interest in acquiring the assets of the Central North Island Forest
Partnership (CNIFP).
The substance of the discussions is a proposal to buy back most of Rubicon’s 17.6% shareholding interest in FCF in
return for Rubicon acquiring part of FCF’s forest estate. The proposal with Rubicon would only proceed if the
conditional agreement between Vela Forestry and the Receivers of the CNIFP terminates and FCF can negotiate a purchase
transaction with the Receivers.
Any agreement between Rubicon and FCF would be subject to the satisfaction of shareholder and regulatory approvals, and
also FCF completing its transaction with the Receivers.
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