Bergs Timber AB announces that all conditions for the Company’s acquisition of Norvik hf’s timber operations in the Baltics and the United Kingdom have been met.
The extraordinary general meeting in Bergs Timber, held 14 May 2018, resolved in accordance with the Board of Director’s proposal on the issue in kind to Norvik. In addition, Bergs Timber has obtained final approval from relevant banks. A credit-line increase and an extension of Bergs Timber’s existing credit agreement have been received from Bergs Timber’s financing bank.
After completion of the issue in kind, Norvik will hold approximately 64.68% of the total number of shares and votes in Bergs Timber. The newly issued shares will be registered and admitted to trading on Nasdaq Stockholm, which is expected to take place not later than the beginning of June 2018.
