CVC Asia Pacific has agreed to buy Carter Holt Harvey Plantation Timber Products unit in China for US$100 million ($152 million), the Wall Street Journal reported. The purchase was the first by CVC Asia Pacific in China and was financed with about US$60 million of debt.
Plantation Timber makes medium density fibreboard and flooring.
Meanwhile, US forestry company Hancock has been cleared by the Commerce Commission to bid for Carter Holt's forests.
CHH sells China unit
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