Carter Holt Harvey sell off

14 April 2015

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New Zealand’s Graeme Hart is reported to be planning to sell up to 60% of his firm Carter Holt Harvey in a deal worth up to NZ$1bn.

The tycoon reportedly intends to list the business on both the New Zealand and Australian stock exchanges.

Carter Holt Harvey is made up of timber products businesses Woodproducts Australia and Woodproducts New Zealand, and Carters Building Supplies which together employ 5000 people.

Mr Hart was ranked number 195 on Forbes Magazine's annual rich list, with an estimated fortune of US$7bn.