Latvian Forest Company Exploring Sale of Forest Assets in Latvia and Lithuania
On Tuesday, Latvian Forest Company AB announced that it will explore the market regarding a sale of the company’s forest assets in Latvia and Lithuania.
The decision follows the successful sale of 665 hectares (1,643 acres) of land with a growing stock of 93,000 m3 for EUR 4,120,000 (US$4,433,000) at the end of last year. The strong interest in forest assets in the Baltic region prompted the Board to explore the possibility of selling additional holdings to unlock accumulated value in the company.
Latvian Forest Company has not engaged external advisors. The Board has directed the CEO to assess the conditions for a potential sale.
As of February 28, the company owns 8,014 hectares (19,803 acres) in Latvia and Lithuania, with a growing stock of approximately 1,092,000 m3. These holdings are organized into six portfolios designed for efficient management and cost optimization. The company aims to attract a broad range of buyers and invites interested parties to submit offers for individual portfolios or the entire asset base.
The six portfolios are organized as follows:
- Aluksne region with 225 hectares (556 acres) and 17,500 m3 of growing stock
- Latgale with 1,010 hectares (2,496 acres) and 102,000 m3 of growing stock
- Courland with 837 hectares (2,068 acres) and 88,000 m3 of growing stock
- Rēzekne with 2,205 hectares (5,449 acres) and 250,000 m3 of growing stock
- Vidzeme (Livonia) with 2,004 hectares (4,952 acres) and 305,000 m3 of growing stock
- Lithuania with 1,732 hectares (4,780 acres) and 330,000 m3 of growing stock
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