Parts of the acquisition have already been taken up and the remaining shall be taken later.
The company’s holdings consist after these acquisitions of 1,874 hectares of woodland, 1,218 hectares of agricultural land and 368 hectares of other land. The growing stock is estimated at 306,000 cubic meters of growing forest, of which 90,700 cubic meters are immediately fellable. 763 hectares of agricultural land are leased to local farmers. The company management plans to convert an additional 500 hectares of agricultural and other land into woodland. The company will publish a map of the holdings shortly after the remaining 611.8 hectares have been taken. In total, the company has invested approximately EUR 7 million included these acquisitions.
The company refers to previously published press release on July 30, 2019 stating that the letter of intent has been signed concerning the acquisition of 2,232 hectares of forest and agricultural land in Latvia, at the estimated purchase price of MEUR 4,17. The mentioned purchase is completed and included in the 3,460 hectares that the company has taken up.
For further information contact
Aleksandrs Tralmaks, CEO
+37129203972
Or visit our website: www.latvianforest.se
This information is information that Latvian Forest Company AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on November 12, 2019, at 12:00 CET.
About the company:
Latvian Forest Company AB (publ) is a Swedish listed company that acquires in and conducts forestry on favorable valued forests in Latvia. The three main grounds of the business are, in addition to forests being a sought-after real asset that grows by its own power.
- an expected increase in price levels for Latvian forest and agricultural properties.
- to create value increase through active forest management.
to create value growth by building a larger property