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Firms cultivate SA forestry deal
HWL Ebsworth and Herbert Smith Freehills negotiated an agreement on the management of forestry plantations in South Australia, including job security for state government staff.
Digital
Firm: Herbert Smith Freehills (OneFortyOne); HWL Ebsworth (South Australian Government)
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Deal: The South Australian Government struck an agreement to allow OneFortyOne to assume management of a timber plantation in the state's south-east.
Value: Undisclosed
Area: Government
Key players: HWL Ebsworth’s head of commercial group, Jamie Restas, lead the team, assisted by partner Nick Karagiannis, special counsel Tony Floreani and associates Cam Steele and Jessica Besendjak.
Deal significance:
The South Australian Government previously agreed to divest its ForestrySA forward pine plantation rotation for $670 million, giving OFO the right to harvest the timber.
Under this new agreement, OFO will assume management of the plantation.
One condition involved OFO making employment offers to ForestrySA staff involved in providing planation management services to OFO. Staff will transfer to the new company under their existing employment terms, including leave entitlements.
The state retains ownership of underlying forest, land, water and carbon rights.
