Sale of the two subsidiaries, and thus indirectly the company’s total operations, is expected to be finalised around February 25, 2019, when the due diligence is completed.
The total sale price is estimated to 26 000 000 Euro, corresponding to the buyers estimate of the total value of the assets in the two daughter companies, mainly consisting of forest and agricultural properties. The final sale price amounts to the total value of the assets plus/minus the working capital of the daughter companies as per the day of admission, subject to any changes agreed by the parties in the share purchase agreement.
Since a sale of the shares in the two daughter companies indirectly means that the company’s entire operations will be disposed, the question of a sale of mentioned shares will be submitted to the shareholders on an extraordinary general meeting. The company board will call for an extraordinary general meeting as soon as a binding share purchase agreement has been signed, which will be conditional to the decision taken by the extraordinary general meeting and approval from the buyer’s board.
For further information please contact
Aleksandrs Tralmaks, VD
+37129203972
Visit our website: www.latvianforest.se
Latvian Forest Company AB (public) is obliged to publish this information according to the EU Market Abuse Regulation. This information was published by above mentioned contact person February 4, 2019 at 13.00 CET.
Latvian Forest Company:
Latvian Forest Company AB (public) is a Swedish listed Company investing in and operating forestry on favourable valued forests in Latvia. The three main basics of the business are, besides forest being a sought-after real asset which 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 gains by building a larger property portfolio