Chapman Tripp has announced its involvement in advising a Japanese consortium on its 100% acquisition of Carter Holt Harvey’s pulp and paper and packaging businesses.
The Consortium comprises Tokyo Stock Exchange-listed packaging company Oji Holdings Corp, and Innovation Network Corporation of Japan (INCJ) - a Japanese corporate investor, sponsored by the Japanese Government and private enterprise.
The $1.037b investment is one of the largest investments in the New Zealand economy by Japanese investors, according to the firm.
Chapman Tripp advised on all New Zealand legal aspects of the purchase, including contract negotiations, deal structuring and environmental issues. The team was led by partner John Strowger and included partner Tim Tubman, senior associate Joshua Pringle and senior solicitor Adrien Hunter. An Environmental team led by partner Paula Brosnahan provided environmental advice.
“This was a complex transaction requiring significant commercial and environmental legal expertise, over a prolonged period,” said Strowger.
The deal is expected to complete in the second half of the year, subject to regulatory approval.