Forest Products Industry

Latvian Forest Company AB (publ) (“LFC”)  has completed the purchase of all shares in UAB Siluona today. Through the purchase, LFC will acquire 1,338 hectares of land with 301,000 cubic meters of timber stock.

The transaction value of UAB Siluona’s value-creating assets: forest and agricultural properties amounts to EUR 7.5 million. The purchase price for the shares amounts to EUR 3.16 million. In addition, EUR 0.97 million is paid for outstanding shareholder loans according to a special agreement. In connection with the purchase, the company will take out a bank loan corresponding to EUR 3.4 million from SEB in Lithuania.

The acquisition covers all shares in UAB Siluona. UAB Siluona’s assets consist of 1,338 hectares, of which 1,272 hectares are forest land with a total timber stock estimated at 301,000 cubic meters. Following the acquisition, LFC owns a total of 7,189 hectares, of which 6,591 hectares are forest land and the timber stock is estimated to correspond to 1,011,740 cubic meters in Latvia and Lithuania.

For further information contact

Alexander Tralmaks, VD
+37129203972
aleksandrs.tralmaks@latvianforest.se
Or visit our website:  www.latvianforest.se

About the company:

Latvian Forest Company AB (publ) is a Swedish listed company that acquires, sells and conducts forestry on favorably valued forest in Latvia. The three main foundations of the business are, in addition to the fact that forest is a sought-after real asset that grows on its own;

• an expected increase in price levels for Latvian forestry and agricultural properties
• to create value increase through active forest management
• to create value increase by building up a larger property portfolio.

The post Latvian Forest Company Ab (Publ.) Has Completed The Transaction Regarding The Purchase Of All Shares In Uab Siluona. appeared first on International Forest Industries.