Swedish Ikea group has purchased approximately 33,600 ha of forestland in the districts of Prahova, Buzau, Vrancea (all in central Romania), remedy Botohani (northeast Romania), and Bihor (northwest Romania) through its Romanian subsidiary IRI Investments (IKEA Resource Independence).


The group says the acquisition was concluded on 30 June. On the basis of the usual prices for Romanian forests at the moment, the purchase price is likely to be over €100m. According to information from the online portal “Mediafax”, the seller is the Swedish investment company GreenGold Asset Management.


GreenGold Asset Management, which is specialised in investments in the forest sector in eastern Europe, Scandinavia, and East Africa, declined to comment on the transaction.