News

04
03.2014

Acquisitions will be completed

Following the completion of its due diligence analyses, the Latvian Forest Company AB has decided to complete the previously announced acquisitions. As part of this decision, it has signed a share purchase agreement with Bockasjö Skogar AB regarding the acquisition of Forest Holding Latvia AB. In addition, a share purchase agreement is to be signed shortly with the regarding the purchase of the Latvian company SIA Zaveria. The acquisitions cover a total of 3,835 hectares of forest and agricultural land, with an estimated standing timber volume of some 290,000 cubic meters. According to the agreements, the preliminary purchase price totals some SEK 53.7 M with take-over and payment expected to take place in mid-April, provided that sufficient financing has been raised by then. 
 
The total financing requirement is estimated to be a minimum of approximately SEK 57 M. The objective, however, is that the total financing not only will provide the required funds to complete the acquisitions, but that after the transactions, net cash resources of about SEK 5-10 M will be available for continued expansion and purchase of individual properties during 2014. 
 
Consequently, total financing is anticipated to amount to some SEK 66 M, to which sellers and a limited group of investors plan to contribute about SEK 36 M though a targeted share issue. In addition, it is expected that about SEK 15 M will be added by means of bank financing, as well as SEK 15 M through a partially guaranteed preferential rights issue on the same terms offered to sellers and investors in the targeted share issue. More details on the terms underlying the issues and so forth will be communicated as soon as possible.     
 
The acquisitions more than double Latvian Forest Company’s total land holdings and timber volumes. The assessment is that the above moves will strengthen cash flow and provide for substantial economies of scale in forest management. Meanwhile, the property portfolio’s new composition and age structure create conditions for substantial volume growth in the future.  
 

140304_lfc_overlatelseavtal_v4_eng

Interim Report January - September 2018
23.11.2018

  • Book value on land and forest assets of 23.840 (21.062) TEUR
  • Owners’ Equity per share was 1,125 (0,979) EUR
  • Property holdings of 10.357 (9.416) hectares
  • Timber volume was 1.016.600 (960.000) cubic meter

Read more
Interim Report January - June 2018
23.08.2018

  • Book value on land and forest assets of 22.137 (20.850) TEUR
  • Owners’ Equity per share was 1,047 (1,068) EUR
  • Property holdings of 9.877 (9.368) hectare
  • Timber volume was 1.034.000 (940.000) cubic meter

Read more
Come follow us on Instagram!
17.08.2018

Come follow us on Instagram

Read more
European Foresters' Orienteering Championships 2018
01.08.2018

We at Latvian Forest Company are proud supporters of orienteering in Latvia.

Read more
Interim Report January - March 2018
24.05.2018

  • Book value on land and forest assets of 21.924,3 (20.829,8) TEUR
  • Owners’ Equity per share was 1,034 (1,06) EUR
  • Earnings per share 0,008 (0,0039) EUR
  • Property holdings of 9.665 (9.368) hectare

Read more
Interim Report January - March 2017
22.05.2017

  • Book value on land and forest assets of 20.829,8 (19.228) TEUR
  • Owners’ Equity per share was 1,06 (1,03) EUR
  • Earnings per share was 0,0039 EUR
  • Property holdings of 9.368 (8.590) hectare

Read more
Bronsstädet AB largest shareholder
23.09.2014

Bronsstädet AB (556612-1124) has purchased 1.878.616 B-shares in Latvian Forest Company AB (publ). The ownership, after purchases, corresponds to 14.81 percent of capital and 14.01 percent of votes which makes Bronsstädet AB the largest shareholder in Latvian Forest Co.

Read more