The 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".
The Whanganui Land Settlement Negotiation Trust could have been in a position to buy the land had claims for the lower Whanganui been settled earlier.