SCA to acquire 13,000 hectares of forest land in Latvia
September 15, 2020
LATVIA (News release) -- SCA has signed an agreement to acquire forest land in Latvia. The acquisition comprises an area of 19,150 hectares, of which 13,100 is forest land. The purchase price is EUR 44.5m, approximately SEK 450m.
The standing timber volume amounts to 1.8 million m3fo. Some areas of the acquired land that are not forest land, will be divested.
SCA has so far acquired 30,000 hectares of forest land in Estonia and Latvia.
"We have the ambition to grow as forest owner in the Baltic states", says Jonas Mårtensson, President Forest. "The Baltics is a natural part of our raw material base and our operations there are strengthened by our own forest holding in the region."
The seller is Isnaudas Forest Holding AB. The acquisition is expected to be closed in the fourth quarter of 2020.