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Post by Kiwi Frontline on Sept 24, 2018 17:25:20 GMT 12
WANGANUI IWI GIFTED FORESTRY LAND BY NEW JAPANESE OWNERSThe new owners of former council forests have gifted a slice of the blocks to Whanganui iwi. The sale of 1000ha of land and forest by Whanganui District Council to Summit Forests NZ, a subsidiary of the Japanese multinational Sumitomo Corporation, was announced this month. The nearly $13 million deal was signed in December 2016, but had to await Overseas Investment Office approval. Part of the deal is an announcement Summit Forests will hand over 148ha "for nil consideration once Summit has identified the appropriate iwi to receive the offer"...... www.nzherald.co.nz/forests/news/article.cfm?c_id=211&objectid=12130591
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