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ZE. Metsä Purchases 5,900 Hectares Of Forestry Land From UPM
July 01, 2013 • Source: UPM/IHB ZE. Metsä Oy has purchased forest estates from UPM in Finland. The purchase advised and subsequently managed by Latifundium Management GmbH covers 5,900 hectares of forest estates located in Kuhmo, Joensuu and Vieremä in Eastern Finland. In addition to the real estate deal the parties have signed a long term wood purchase and forest management agreement. The parties have agreed not to disclose the purchase price. ”Last year, we already signed an agreement with UPM on the purchase of 7,200 hectares of forest area in Finland on behalf of a closed fund managed by us. We remain to be positive about Finland as a forest investment region and have therefore decided to increase our presence in the country with this transaction”, says Latifundium’s representative Maximilian Graf von Maldeghem. “We are pleased to see that foreign investors are interested in buying forest properties from UPM in Finland. It is a sign that they have recognized the value of sustainably managed Finnish forests as a profitable investment,” says Sauli Brander, Vice President, UPM’s Forestry Business. UPM has sold its forest assets steadily as a part of land use management. The latest bidding opportunity concerning big forest entities was closed in the end of May. Continue reading
