DASOS FUND II CO-INVESTMENT FORESTRY IRELAND

Co-investment with Dasos Timberland Fund II to improve Irish forest assets (reforestation and new plantations) and improve forest management.

The proposed operation aggregates a portfolio of up to 12 000 ha of forestry assets in the Republic of Ireland. By consolidating fragmented forestry assets, the co-investment will allow the creation of one larger portfolio under the same management, thus benefiting from improved forest operations, economies of scale and synergies - all important value creation drivers in the Irish forestry sector. The co-investment will include investments in i) improving forest management, ii) reforestation (i.e. after harvesting operations) and iii) new plantations.

Well-designed forestry investments deliver many environmental benefits including climate change mitigation and adaptation, improved management of soil and water resources and protection of biodiversity. In the EU, afforestation entailing conversion to another land use type falls under Annex II of the EIA Directive 85/337/EEC amended by Directives 97/11/EC and 2003/35/EC. The decision of the Competent Authority whether to require an Environmental Impact Assessment (EIA) on the basis of Annex III of the Directive will be assessed, as well as possible impacts on protected flora and fauna (Habitats' 92/43/EEC and Birds' 79/409/EEC Directives).

The promoter, a private company, is not subject to EU Directives on procurement when investing in the EU.