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      Supported by the Deal and Tax Advisory teams of KPMG in Latvia, HS Timber Group has acquired 100% of the shares of SIA Vika Wood from the Swedish company AB Bergs Timber. HS Timber Group is one of the largest wood processing companies in Europe. Pending approval from the competition authority, the deal is expected to be finalised in the first quarter of 2025.

      Experienced financial and tax experts from KPMG in Latvia, in close collaboration with KPMG Austria, represented the buyer’s side in the deal by providing an in-depth analysis and support throughout the entire process. The financial team consisting of Artūrs Petrovs, Artūrs Aleksandrovičs, and Madara Buša, conducted thorough financial due diligence and assisted in the preparation of the Share Purchase Agreement (SPA). Meanwhile, the tax team – Steve Austwick, Olga Jenate, and Arta Groma – conducted a detailed tax due diligence, provided advice on tax structuring and tax aspects related to the closing of the transaction, and assisted in drafting the Share Purchase Agreement (SPA).

      SIA Vika Wood is one of the largest sawmilling companies in the Baltic region, producing up to 300,000 m³ of sawn timber annually and employing around 140 people. The company is known for its high-quality timber products exported to over 30 countries. Vika Wood is a significant employer in the Talsi region, and its sustainable approach to timber processing using local resources is a great addition to HS Timber Group's growth aspirations and larger market share coverage. HS Timber Group has stated that the acquisition supports the implementation of its long-term strategy by expanding its portfolio of sustainable services.

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