By Libby Middlebrook
Carter Holt Harvey has sold its interest in another Chilean firm to the Angelini Group, but says the deal is not linked to sale of its 30 per cent shareholding in Compania de Petroleos de Chile SA (Copec).
A subsidiary of the Angelini Group, Maderas Prensadas Cholguan, has bought
Carter Holt's 50 per cent stake in Chilean forest products company Trupan for $37 million. The sale gives Maderas all the shares in the unlisted company.
This week, Carter Holt announced it had sold its shareholding in Copec to the Angelini Group for $2.5 million after a lengthy dispute with the family company.
The completition date for the Copec sale is March 31, the same date Angelini has agreed to pay Carter Holt for its Trupan shares.
Carter Holt's investor and government relations manager, Jim Whineray, said it was a "good time to sell" the company's investment in Trupan and consistent with Carter's Australasian focus.
He said the sale was not linked to Copec.
