Since the establishment of the Silvestica Green Forest in the summer of 2017, the business has grown rapidly. On 30 September this year, the total investments amounted to app SEK 2,500 million, distributed over just over 70,000 hectares in Finland, Latvia, Lithuania and with a smaller part in Sweden. The fund is now increasing its Swedish land holdings through the acquisition of several subsidiaries of Norra Skog with associated forest land and other operations, a total of app 40,000 hectares. The fund’s total holdings after the acquisition amount to around 110,000 hectares. The takeover will take place on December 16, 2020. The parties will not publish the purchase price or other details.
The acquisition is part of Silvestica Green Forest’s ambition to increase its land holdings in Sweden. The acquired 40,000 hectares are distributed in the counties of Norrbotten, Västerbotten, Västernorrland and Jämtland. Norra Skog will be responsible for forest management.
– We are pleased that we have now been able to carry out a major acquisition in Sweden. The forest land acquired by Norra Skog is well-situated and managed and the land more than meets our high demands. Following the completion of the acquisition, Silvestica’s holdings total approximately 110,000 hectares distributed among the five countries around the Baltic Sea; Sweden, Finland, Estonia, Latvia and Lithuania. We look forward to a continued cooperation with Norra Skog, says Karl Danielsson, spokesman for Silvestica Green Forest.
Read more about Silvestica Green Forest at www.silvestica.se.
For further information please contact:
Karl Danielsson, Presstalesman, Silvestica Green Forest AB
Tel: 070-648 23 03
Rickard Lehmann, CEO, CRK Forest Management AB (manager of Silvestica Green Forest)
Tel: 070-544 81 00
For information about Norra Skog see norraskog.se
Silvestica Green Forest AB (“Silvestica”) is a long-term forest fund for institutional investors founded by SEB, the Hesselman Foundation and CRK, in the spring of 2017. Silvestica invests in the asset class forest by acquiring forest properties in Sweden, Finland and in the Baltics. Silvestica shall manage and refine forest holdings responsibly and sustainably in order to achieve high value growth and a stable direct return, within the framework of SEB´’s Sustainability Policy and in accordance with SEB´’s Industry Policy for forestry.