Dec 04, 2014. /Lesprom Network/. Innovation Network Corporation of Japan (“INCJ”) and Oji have completed the acquisition of New Zealand/Australia-based pulp, paper and packaging businesses comprised of Carter Holt Harvey Pulp & Paper Limited (“CHHPP”) and certain related companies held by Carter Holt Harvey Limited from Rank Group, as the company said in the press release received by Lesprom Network.

For the purpose of the acquisition, INCJ and Oji have established Oji Oceania Management Co., Ltd. (“OOM”) and Oji Oceania Management (NZ) Limited (“OOM(NZ)”) as a holding company which will fall under the category of specified subsidiary of Oji.

The transaction value is approximately NZ$1,037 million.

For the purpose of the acquisition, Oji has established OOM in Japan as well as OOM(NZ) in New Zealand. As the amount of paid-in capital for each of OOM, OOM (NZ) and CHHPP will be greater than 10% of Oji’s paid-in capital, these companies will fall under the category of specified subsidiary of Oji.