Austrian group Schweighofer is to sell the forests it controls in Romania to Swedish investor Greengold Asset Management AB/KB, according to Bloomberg. More precisely, it sells the Cascade Empire company and the "Ocolul Silvic Cascade Empire", which together hold 14,283 hectares of forests in northern Romania, according to a Schweighhofer statement on Monday.
The price and details of the transaction were not made public.
A year ago, the Forest Stewardship Council withdrew the certification fot Schweighofer-processed wood after activists in three countries - Romania, Austria and Germany - submitted a petition signed by more than 250,000 citizens to Council heads, accusing the company of processing wood from illegal exploitations.
