EU – Baltic States, Good for Business, Latvia, Mergers and take-overs, Woodwork
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Monday, 21.10.2024, 07:20
Bergvik Skog sells its forests, businesses in Latvia to Sweden's Sodra
The deal was concluded on Tuesday, November 13, and Bergvik Skog has turned over its Bergvik Skog and Ruda
companies in Latvia to Sodra. Under
the deal, Bergvik Skog has sold
111,100 hectares of land, including 80,300 hectares under productive forests.
The price of the deal is 324 mln euros.
The Latvian daily Latvijas Avize
reported earlier that 20 companies had been eyeing the Latvian forests owned by
Bergvik Skog, including three Latvian
companies. The plan was to sell the properties by the end of this year.
It was also reported that Latvijas
Valsts Mezi (Latvian State Forests,
LVM) had also expressed interest in buying the properties.
In 2017, Bergvik Skog turned
over 2.423 mln euros and made 275,931 euros in profit, according to information
available at Firmas.lv.
The company has been registered in 2003 and its share capital is 106,025 euros.
The company belongs to Sweden’s Bergvik
Skog.
Sodra,
meanwhile, has a Latvian subsidiary called Sodra
Mezi.