(UPM, Helsinki, 28 June, 2013 at 9.30 EET) – ZE. Metsä Oy, owned by an international investor 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. Detailed information on estates and lake shore plots for sale are available on www.bonvesta.fi.
For more information please contact
Ms Riitta Väisänen, Sales Manager, Land Use and Real Estate, UPM, tel. +358 400 546 690
UPM, Media Desk
Mon-Fri office hours 9-16 EET
tel. +358 40 588 3284
UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 22,000 people. UPM is present in 67 countries and has production units in 17 countries. UPM's annual sales exceed EUR 10 billion. UPM's shares are listed on the Helsinki stock exchange. UPM – The Biofore Company – www.upm.com