05:09 PM EDT, 06/30/2025 (MT Newswires) -- Rayonier ( RYN ) said Monday that it completed the sale of entities holding a 77% stake in its New Zealand joint venture to an investment fund managed by The Rohatyn Group for $710 million.

At least half of the proceeds from the sale will be used to reduce leverage or return capital to shareholders through special dividends and share repurchases, according to Rayonier ( RYN ).

The remaining proceeds will fund other capital allocations, share buybacks, and/or potential reinvestments, the company added.