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Saturday | October 24 | 2020

Swedish giant to acquire 13.000 hectares of forest land in Latvia

Svenska Cellulosa Aktiebolaget (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.

The seller is Isnaudas Forest Holding AB and the acquisition is expected to be closed in the fourth quarter of 2020.

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