Swedish Bergs Timber has completed the acquisition of Fågelfors Hyvleri AB, according to a statement published yesterday. The acquisition consists mainly of a pellet plant at the Fågelfors site with a production capacity of around 90,000t/year, a 20,000t/year firewood production plant and a planing plant with a production capacity of 30,000 m³/year.
As announced at the beginning of May, the purchase price for Fågelfrors Hyvleri, excluding existing liabilities, is skr 48m. However, as Fågelfrors Hyvleri's net debt at the time of acquisition was around SEK 65m, the purchase price on a debt-free basis is around SEK 110m.
Of the SEK 48m, SEK 30m was paid in cash and SEK 18m through the issue of 5,940,694 B-shares at SEK 3.03 per share. The shares were issued in the form of a capital increase in Fågelfors Bruk, with the right and obligation to settle the new Bergs Timber shares with shares in Fågelfors Hyvleri. Fågelfors Bruk now holds 1.7% of the shares and votes in Bergs Timber.