Sveza wants to take over Latvijas Finieris
Nov 01, 2010. Sveza published an invitation to shareholders of AS Latvijas Finieris to sell their shares. Offered purchase price is 10,000 LVL ($19,782) for each ordinary registered share with voting right and 1,000 LVL ($1,978) for each registered share with restricted voting right. The invitation is valid until November 5, 2010.
Nov 01, 2010. /Lesprom Network/. Sveza published an invitation to shareholders of AS Latvijas Finieris to sell their shares. Offered purchase price is 10,000 LVL ($19,782) for each ordinary registered share with voting right and 1,000 LVL ($1,978) for each registered share with restricted voting right. The invitation is valid until November 5, 2010, company said in a statement received by Lesprom Network.
Sveza is considering this invitation as an opportunity to merge strong sides of both companies with the purpose of creating a new entity - leader in birch plywood production, with extended product portfolio and sales channels and ability to extract considerable operational synergies for further profitability improvement, the company said.
Sveza is the leading producer of birch plywood and particleboard in Russia and the largest player in the global market of birch plywood.