Business News
CATELLA BUYS 2,115 HECTARES FOREST AREA FROM UPM
Tuesday 29. September 2009 - Catella, an independent European finance group has made an agreement to buy from UPM a 2,115 hectares forest entity located in Rautalampi in Middle Finland. The agreement covers also a long term wood sourcing and forest management contract.
Catella manages the Focus Global Forest CFGF investment fund specialised in forest property. It covers forest areas acquired from different countries. For Catella forest is a long term investment offering a stable profit.
UPM offered in February 2009 for sale in total some 30,000 hectares of forests which are outside the areas where most of UPMs forests are located. The company looked for partners committed to long term forest ownership. Offers have been given by private persons, Finnish communities and foreign investors. This fits well with UPM’s aim to promote a more versatile forest ownership structure in Finland.