Metsaliitto Cooperative is the parent company of Finland’s Metsa Group, and it has announced plans to sell the timber supply business that is handled by Metsa Forest Latvia. The business is to be bought by Aca Timber in Latvia, the Finnish company has told the LETA news agency.
Aca Timber CEO Armands Apfelbaums told the agency that the specifics of the deal are confidential.
Metsa Group says that the parties in the deal have agreed on long-term deliveries of pulpwood and chips to Metsa Group. All Metsa Forest Latvia employees will transfer to the new owner’s enterprise as part of the target company. The aim is to further increase the flexibility of Metsa Group’s wood supply.
The transaction will require the approval of the Latvian Competition Authority, and it is expected to be completed during the first half of 2025. The divestment of the wood supply operations in Latvia will not be deleterious to Meta Group’s finances, wood supplies or forest services business.
Source: BNS
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