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Forestry Plantations Queensland (FPQ) was the first of five businesses to be sold or leased by the Queensland Government to the private sector as part of the government’s $16.5 billion forestry privatisation program.
In a bid to reform the state balance sheet and build a stronger state economy, the Queensland Government sold FPQ’s main assets to a Hancock managed consortium for $603 million in June 2010.
The deal included a 99 year licence to manage, harvest and re-grow plantation timber on over 200,000 hectares of plantation lands.
Corrs advised major Danish investor ATP Timberland Invest K/S and a large institutional UK investor. Together they were the key equity investors in the successful Hancock managed consortium.