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Bergs Timber taking over Jarl Timber in full

10.06.2016 − 

Swedish Bergs Timber is taking over all the shares in Jarl Timber of Broakulla from Latvian company Norvik Timber Industry (NTI). A binding contract was signed on 3 June and largely reflects the content of the letter of intent signed on 21 April. The transaction is being funded by the issue of 46,338,430 new shares at a price of SEK3.20 each. The price arises from the closing price on 2 June plus a bonus of 9.0%. Jarl Timber’s business assets were set at SEK67.1m on 30 April. NTI will probably have a stake of 29% in Bergs Timber upon completion of the deal. Prior approval for the negotiated terms and conditions is required from an extraordinary general meeting on 28 June.

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