Lithuanian daily: Ikea buys €65m of forest holdings in Baltics

A forest in Estonia. (Siim Lõvi/ERR)
9/8/2016 10:36 AM
Source: BNS
Category: Business

Swedish furniture giant Ikea has purchased a total of approximately 38,000 hectares, or nearly 94,000 acres, of forest in Estonia, Latvia and Lithuania for a total cost of 65 million euros, reported Lithuanian daily Verslo žinios.

Last year, Ikea bought a total of 72,000 hectares, or approximately 178,000 acres, of forests across the three Baltic States as well as Romania for at least 115 million euros, business news source Bloomberg said, citing Sweden's agricultural daily ATL.

Ikea did not elaborate on the share of forests purchased by the Swedish furniture group in Lithuania or the sum paid for them.

Editor: Aili Vahtla

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