Brief: Bergs Timber Signs LoI To Acquire Operations In Baltics And UK

Bergs Timber AB (publ)

22/01/2018 12:00

Jan 22 (Reuters) - BERGS TIMBER AB (PUBL)  BRGb.ST : 
    * BERGS TIMBER HAS SIGNED A LETTER OF INTENT TO ACQUIRE 
NORVIK 
TIMBER INDUSTRIES' OPERATIONS IN THE BALTICS AND THE UNITED 
KINGDOM 
    * SWEDISH SECURITIES COUNCIL HAS GRANTED NORVIK AN 
EXEMPTION FROM 
MANDATORY BID OBLIGATION 
    * IF ACQUISITION IS COMPLETED, NORVIK IS EXPECTED REACH A 
HOLDING 
IN BERGS TIMBER OF 64.68 PERCENT 
    * PAYMENT IS INTENDED TO BE PAID WITH 170 MILLION NEWLY 
ISSUED 
SHARES IN BERGS TIMBER AND CASH PAYMENT OF SEK 270 MILLION 
    * NORVIK ANNOUNCED INTENTION TO SELL PARTS OF SHAREHOLDING 
IN 
CONNECTION WITH COMPLETION OF ACQUISITION 
 
Source text for Eikon:  ID:nWkrc2DZ9l  
Further company coverage:  BRGb.ST  
 
 (Gdynia Newsroom) 
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