IKEA subsidiary gets EUR 40 mln capital to buy forests in Romania

IRI Investments, a subsidiary of Swedish group IKEA that manages forest acquisitions in Romania, received a capital boost of EUR 40.2 million in July. The firm ranked first among the local companies that increased their capital that month, according to data from the Trade Registry’s Office - ONRC. IRI Investments has recently announced the purchase of 12,800 hectares of woodland in Romania. Most of the money from the capital increase may have been used to finance this acquisition. The newly acquired forests are located in Iasi and Neamt counties. IRI Investments currently owns 46,700 hectares of forest in Romania. Last year it bought 34,000 hectares of forest in Romania from the Harvard University. editor@romania-insider.com