Carter Holt Harvey (CHH) has declared its interest in Tenon’s structural sawmill assets by applying for Commerce Commission approval to buy the mills.
CHH’s move follows Tenon’s decision in September to review its sawmill assets in the central North Island with a view to a potential sale.
About seven possible buyers are already rumoured to be interested in the assets, thought to be worth between NZ$123m-144m.
CHH said the application to the Commerce Commision was designed to give the company flexibility to see if the mills were an investment opportunity. But it did not know whether Tenon would decide to sell.
The results of Tenon’s review are expected to be made public at its annual meeting on December 22.