Ellex advises Ingka Investments on the largest forestland acquisition in the Baltics to date

Ellex  provided legal support to Ingka Investments, the investment company of Ingka Group, in the largest forestland acquisition in the Baltics. 

Ingka Investments has entered into an agreement to acquire approximately 153,000 hectares of land in Latvia and Estonia, 89% of which is forestland. The land was purchased from Södra, Sweden’s largest forest owners’ association, for a total transaction value of EUR 720 million. The completion is subject to approval by the relevant regulatory authorities. 

This acquisition is part of Ingka Investments’ long-term strategy aimed at responsible and sustainable forest management, as well as investment in the development of local communities and regions. The company plans to strengthen cooperation with Baltic timber processing companies, promote wood processing in the region, and create highly skilled jobs. 

The Ellex team provided legal support throughout the transaction, including structuring advice, performing of a legal due diligence, preparation of transaction documentation and negotiations. 

The overall process of legal support in Latvia was managed by partner Inita Jurka, in Estonia – by partner Martin Käerdi and senior associate Karin Tartu, while the merger clearance process is led by Liga Merwin and Martin Mäesalu, involving a large part of the Ellex team in both Latvia and Estonia.