Investment company buys UPM forests

European finance group Catella is to buy 2,115ha of forestland from UPM.

The agreement to buy the forest, located in Rautalampi, also covers a long term wood sourcing and forest management contract.

Catella manages the Focus Global Forest CFGF investment fund specialising in forest property. It sees forests as long-term investments offering stable profits.

UPM originally put forests totaling 30,000ha up for sale in February. The tracts were outside the company’s core forest areas.

UPM said it wanted to promote more versatile forest ownership in Finland.