Ikea has bought 33,600 hectares of forest in Romania, from a Swedish private company, making it the largest forest owner in Romania, according to Mediafax news.
Ikea purchased the hectares of forest from a Swedish company, Greengold, led by former partners in Romania of the University of Harvard.
This is the first acquisition of its kind carried out by the Swedish company worldwide and makes the furniture and furnishings retailer into the largest owner of forests in Romania.
In January, Harvard University gave, after charges of corruption, some forests in Romania to Greengold Swedish group headed by partners and employees from Bucharest of the US University’s investment division.
Purchased forest areas are in Prahova, Buzau, Vrancea, Botosani and Bihor. Romania is the first country where Ikea Group will coordinate its own activities of owned forest management, through a Romanian company, IRI Investments Ltd, part of the Ikea Group.
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