Metsä Group Completes Divestiture of Its Wood Supply Business in Latvia

Metsä Group has completed the divestment of its Latvian wood supply business to ACA Timber, following approval by the Latvian Competition Authority. The business was sold by Metsä Forest Latvia SIA, a wholly owned subsidiary of Metsäliitto Cooperative, Metsä Group’s parent company. The transaction was initially announced on March 3.

According to Metsä Group, the divestment of the Latvian wood supply operations has no material financial impact on Metsä Group’s wood supply and forest services business. The parties have agreed on long-term deliveries of pulpwood and chips to Metsä Group. All Metsä Forest Latvia SIA employees will transfer to the new owner’s service.