Latvian Forest Company AB has completed the purchase of all shares in UAB Siluona. Through the purchase, Latvian Forest Company 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 amounts to Euro 7.5 million. The purchase price for the shares amounts to Euro 3.16 million. In addition, Euro 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 Euro 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, Latvian Forest Company 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 million m3 in Latvia and Lithuania.
Latvian Forest Company AB is a Swedish company that acquires, sells and conducts forestry on favorably valued forest in Latvia.
