The sale of Coillte's harvesting rights will not now go ahead.

The Minister for Public Expenditure and Reform says the Government has decided that its not the appropriate time to proceed with the proposal.

However Brendan Howlin says the state owned forestry company is to undergo a fundamental restructuring.

And he says a merger of Coillte and Bord na Mona - to create a streamlined and refocused commercial State company - will now be considered: