South African forestry products group Yorkcor says it will go to court in a bid to stop the Bonheur Consortium’s purchase of the Komatiland forestry assets.
Yorkcor claims the R396m sale by the government would create a monopoly, as Bonheur is 70% owned by US company Global Forest Products, which three years ago took over Mondi’s interests in Mpumalanga and Limpopo provinces.
It believes the purchase would give Global control of the largest area of timber resources in the nation, damaging healthy competition in the sector.
