Six North Island iwi have joined forces to buy a stake in the country's largest forestry business, Kaingaroa Timberlands.
The iwi have bought the 2.5 percent stake in the forest from the New Zealand Superannuation Fund, for an undisclosed sum.
Kaingaroa Timberlands is the country's largest forestry operation, covering 190,000 hectares of land in the central North Island.
Spokesperson for the group Vanessa Eparaima says the investment is a win-win for iwi which will be involved in the forestry business as well as being the landowner.
She says the forestry business not only provides significant annual returns to shareholders, but also enhances iwi participation at all levels of the forestry business.
