Latvian Forest Company AB (publ) (“LFC”) has today completed the purchase of all shares in UAB Siluona. Through the purchase, LFC will acquire 1,338 hectares of land with 301,000 m³ of timber stock.
The transaction value of UAB Siluona’s value-creating assets: forest and agricultural properties amount 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 m³. Following the acquisition, LFC now 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 m³ in Latvia and Lithuania.
For further information please contact
Aleksandrs Tralmaks, CEO
+37129203972
Or visit our website: www.latvianforest.se