However, the company stressed the land claims only applied to the properties “and not the standing timber where most of the value lies”. Yorkcor directors were dealing constructively with the claims, the company said.
Yorkcor said the acquisition would allow the company to have control over additional sources of sawlog supply and facilitate the continued expansion of the group’s timber processing.
The Tucker family, which owns a controlling stake in Yorkcor, last month said it would sell its entire 84.75% shareholding in the company to Blackstar Investors – valued at R91m.
Yorkcor said Goedgeloof comprised soft and hardwood plantations on three adjacent properties, of which a third was ready for harvesting; silvicultural operations; and timber trading and processing.
