Swedish-owned IKEA Group has received permission from the Estonian Competition Authority (Konkurentsiamet) to acquire 18,000 hectares of forest from Swedish-owned Södra Forest Estonia, ERR reports. Under the deal, IKEA Group’s subsidiary, Ingka Investments, will buy Södra’s forests in Estonia and Latvia for EUR 720mn. Latvia’s Competition Council has received notification of the deal. Södra owns nearly 153,000 hectares of forest land in the Baltic States, of which 135,000 hectares is in Latvia.
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