Sorainen represented Swedish company Bergvik Skog in the sale of its forest properties in Latvia to another Swedish company, Södra. The sale transaction was carried out by divesting Bergvik Skog subsidiaries in Latvia. The subsidiaries own 111,100 ha of land, whereof 80,300 ha are covered by productive forest. The transaction sum amounted to EUR 324 million.
During its 10 years of operations, Bergvik Skog has established and developed Latvian forest properties. In Latvia, the organisation has grown with a vision of creating long-term values and high environment, efficiency and forestry ambitions. Interest in this transaction was immense. The sales process involved many serious and significant players.
Comments Elisabet Salander Björklund, CEO of Swedish company Bergvik Skog: “I would like to express my sincerest gratitude to the personnel and employees for the fantastic work they contributed to the company during the time it belonged to Swedish company Bergvik Skog. Their competence and determination was the driving force behind the growth of these superb companies, now sold to Södra; and I am happy to hear that Södra intends to keep the same ambitious drive in forestry.”
Sorainen supported the client during the entire deal by advising on the sales process and transaction documents, as well as by representing the client in negotiations.