United Bankers’ forest funds have signed a contract on forest estate transaction and long-term partnership
United Bankers and UPM have today signed a contract on forest estate transaction and long-term partnership. UPM sells over 21,000 hectares of land, located mainly in Kainuu region, to United Bankers forest funds UB Timberland and UB Nordic Forest Fund III. The forest estate transaction is one of the biggest deals in Finland over the past ten years and with the transaction, the total area of forestry in United Bankers’ funds will increase to over 110,000 hectares.
In the long-term partnership United Bankers commits to sell a significant amount of wood to UPM annually and UPM commits to manage United Bankers forest property. Target of the partnership is to support United Bankers’ profitable growth and improve the predictability of the activity by long-term wood trade agreement in the future. “United Bankers is the fastest growing player in the forest estate market and our target is to grow also in the future. Deepening co-operation with UPM brings synergy to our forest management. As a responsible and competitive actor, UPM is a natural partner for us and the contract is thus also to the benefit of our fund owners,” states United Bankers’ CEO Patrick Anderson.
”UPM offers high quality forestry and wood trade services to its customers. A high proportion of forests owned by United Bankers’ forest funds is managed by UPM based on the long-term partnership. Target is to increase the value of forests by sustainable operations,” states UPM’s Forest Director Sauli Brander.
For more information, please contact:
Patrick Anderson, CEO, United Bankers Plc
Phone: +358 400 244 544, +358 9 25 380 236
Phone: +358 40 567 4155
The company’s approved advisor is Merasco Oy, phone +358 9 6129 670