UPM to Sell 7,200 Hectares of Forestlands to Investment Fund

UPM, Finland, reports that it will sell some 7,200 hectares of Finnish forestlands to a fund advised by Latifundium, Germany. The estates are located in Ilomantsi, Pihtipudas, and Tervo. The contract covers a long-term wood purchase and forest management agreement. Latifundium is an investment fund specialized in investments in forest properties with a global reach and a strong foothold in Europe. The purchase of the forest land from UPM is the fund's first investment in Finland.

"We look for stable investments that maintain their value in any business cycle," says Latifundium's representative, Maximilian Graf von Maldeghem. "We have a strong tradition of long-standing forest ownership. The long-term contract with UPM, including a wood purchase and forest management agreement, meets well our criteria. We also aim to maintain all valid contracts with third parties on these properties. "