Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Carter Holt Harvey on the sale of its NSW sawmilling operations.
Following a competitive process, Carter Holt Harvey has signed an agreement with Associated Kiln Driers to sell all its shares in Carter Holt Harvey Timber Pty Ltd (CHH Timber). CHH Timber owns Carter Holt Harvey’s Tumut sawmill, Gilmore treatment facility and a distribution centre in Berkeley Vale. It also has a 50% interest in the Highland Pine Products joint venture in Oberon.
New Zealand-owned Carter Holt Harvey produces and distributes a comprehensive range of wood-based building products and has been a key player in the Australian and New Zealand timber industries for over a century.
Corrs has a long-standing relationship with Carter Holt Harvey, having worked with the company for more than a decade on a number of private M&A transactions.
“It has been a pleasure to work with Carter Holt Harvey on this important transaction. It was a great team effort and we look forward to continuing to work with Carter Holt Harvey in the future,” said Corrs Partner Sandy Mak.
Sandy, the lead partner on the transaction, was supported by Special Counsel Nicole Graham and Lawyer Tatiana Stein in Corrs’ Corporate Advisory team. The complex transaction also required the knowledge and technical expertise of a number of other Corrs teams, including those led by Partners Eugenia Kolivos (IPT&C), Christine Covington (Environment and Planning), Stephen Price (Workplace Relations), Mark Payne (Tax) and Rommel Harding-Farrenberg (Banking and Finance).