The deal was concluded on Tuesday, November 13, and Bergvik Skog has turned over its Bergvik Skog and Ruda companies in Latvia to Sodra. Under the deal, Bergvik Skog has sold 111,100 hectares of land, including 80,300 hectares under productive forests. The price of the deal is €324 million.
The Latvian daily Latvijas Avize reported earlier that 20 companies had been eyeing the Latvian forests owned by Bergvik Skog, including three Latvian companies. The plan was to sell the properties by the end of this year.
It was also reported that Latvijas Valsts Mezi (Latvian State Forests, LVM) had also expressed interest in buying the properties.
In 2017, Bergvik Skog turned over €2.423 million and made €275,931 in profit, according to information available at Firmas.lv.
The company has been registered in 2003 and its share capital is €106,025. The company belongs to Sweden’s Bergvik Skog.
Sodra, meanwhile, has a Latvian subsidiary called Sodra Mezi.