Rayonier to Sell its Stake in New Zealand JV to TRG for $710M

Rayonier Inc. (RYN) recently announced an agreement to sell the entities holding its entire 77% stake in the New Zealand joint venture (JV) to a special purpose vehicle formed by Ents LP, an investment fund managed by The Rohatyn Group (“TRG”) for $710 million. The transaction, subject to the receipt of regulatory approvals and the satisfaction of other closing conditions, is expected to close in 2025.Rayonier’s exit from New Zealand will reduce the company’s exposure to log export markets and enable it to ...