ZE. Metsä Purchases 5,900 Hectares of Forest Land from UPM

ZE. Metsä Oy, Finland, 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 agreed not to disclose the purchase price.

"Last year we signed an agreement with UPM for the purchase of 7,200 hectares of forest area in Finland on behalf of a closed fund managed by us. We remain positive about Finland as a forest investment region and have therefore decided to increase our presence in the country with this transaction," said 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," noted Sauli Brander, VP, 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 at the end of May. Detailed information on estates and lake shore plots for sale are available online.