Apr 18, 2014. /Lesprom Network/. Volga Resources Investments SICAV-SIF S.A. has sold its full stake in Meerwind AB to Gunvor Group Ltd. Meerwind AB was a 50/50 joint venture between the two companies. Gunvor now owns 100% of Meerwind AB, which holds 79% of Rörvik Timber AB, a wood processing operation in southern Sweden, as the company said in the press release received by Lesprom Network.

Gunvor Group’s acquisition of shares in Meerwind results in an indirect change of control of Rörvik Timber and gives rise to an obligation for Gunvor Group to make a mandatory bid for all shares and to all shareholders in Rörvik Timber.

The Swedish Securities Council has granted Gunvor Group an exemption for six month from the obligation to make a mandatory bid.

Gunvor Group intends to return within six months with information on any mandatory bid for the remaining shares of Rörvik Timber.