The IKEA Group, via Ingka Investments, has received approval from the Estonian Competition Authority to purchase 18,000 hectares of forest from Södra Forest Estonia for €720 million. Most of Södra's Baltic forest holdings (135,000 hectares) are in Latvia.
© Julius Kielaitis | Dreamstime
IKEA aims to boost local processing and strengthen the Baltic forestry value chain. Only about 1% of Estonia's total managed forest is affected, so market impact is expected to be limited.
Source: www.globalwood.org
