Swedish Bergs Timber took over the Vimmerby pine sawmill from Setra Group on what is likely to be 9 January. Three months after signing a letter of intent for selling the works with an annual capacity of 160,000 m³, the two companies came to an agreement on the sales terms on 14 December. The conclusion remains subject to approval from the appropriate authorities, final financing, and other conditions precedent.
Subject to these points, Bergs Timber wants to take over the works with all its fixed and current assets on the basis of the book value at the time of the acquisition and free of debt. The purchase price payment totalling SEK57.5m is partly in cash and partly by the issue of 11,000.000 new shares by Bergs Timber.