The company has completed the purchase of all shares in Latfolde AB today. The purchase price was 2,050 TEUR. LFC will through the purchase acquire an additional 961 hectares.
The purchase includes all shares in Latfolde AB. Latfolde AB is a 100% owner of the Latvian subsidiary Latfolde One SIA. Latfolde One SIA assets consist of a total of 961 hectares. Of these, 706 hectares are forests, 149 hectares agricultural land and 106 hectares other land. Total growing stock is estimated at 105,000 cubic meters. Many of the properties that the company own after the purchase border or are close to properties that LFC already owns. Latvian Forest Company AB (publ.) signed a conditional purchase agreement regarding the purchase of all shares in Latfolde AB on September 18, 2020. After the purchase, LFC will own 5,222 hectares and the growing stock is estimated to 626,000 cubic meters.
The company has borrowed 20 MSEK on market terms from two of Latvian Forest´s shareholders to finance the purchase.
For further information contact
Aleksandrs Tralmaks, CEO
+37129203972
[email protected]
Or visit our website: www.latvianforest.se