US Harvard university, biggest forest owner in Romania - financiare.ro
 Home Page  | News  | Exchange Rates  | Interbank Rates  | Central Banks  | Capital Markets Authorities  | Romanian Banks  | Archive  | Romanian  
 Finance-Banks  | Economy  | Business  | Capital Markets  | Real Estate  | Cars  | Travel  | HR Careers Education  | Media  | IT & C  | Environment 

News » April, 2011 » 27 April 2011

US Harvard university, biggest forest owner in Romania
27.04.2011, 23:58 | Real Estate | 1613 views



An investment fund (Phemus Corporation) registered at the same address as Harvard Management Company, an entity part of the prestigious US university Harvard that manages 27bn dollars' worth of assets, is the majority shareholder in the biggest forest owner in Romania, Scolopax SRL of Focşani.

Scolopax leads in the ranking of the largest forest owners in Romania as of April 1, 2010, besides the state that manages through Romsilva, according to the data sent by the Environment Ministry at ZF's request.

Sven Rutgersson, the CEO of Scolopax, confirmed that a Harvard University fund is behind Phemus Corporation, without specifying its name.

"We own around 35,000 hectares of forest and 2,000 hectares of farming land," Rutgersson added. He also specified that purchases started in 2005 and are likely to continue "depending on Romania's development".

Read more on ZF.ro




Latest news in category Real Estate

The Romanian Development Ministry significantly increases fines charged to homeowners and local authorities who fail to carry out technical inspections and start rehabilitation works on buildings considered to have a high seismic risk. read more...


30.05.2011, ora 11:57 | 1841 vizualizări
City Mall Bucharest To See Fourth Sale Attempt, At EUR23.58M
Bankrupt shopping center City Mall Bucharest will be put up for sale for the fourth time on June 10, in an auction starting at EUR23.58 million, some 30% less than the initial price of EUR33 million. read more...


City Mall shopping center in Bucharest, currently bankrupt, might find a buyer at the third auction, for a price of at least EUR 26.2 million, considering Casa de Insolvenţă Transilvania, the project's liquidator, sold a document detailing the conditions of contract to an interested investor. read more...


Subscribe to newsletter
Name:
E-mail:
News: Yes  No 
Exchange Rates: Yes  No 


Top news last 7 days


Publicitate pe acest site
Copyright 1999-2024 Pandora Impex SRL.