TGS Baltic, working with Vinge, has advised Bergs Timber on the sale of its Latvian sawmill business Vika Wood to Nextwood One, part of the Austrian HS Timber group. Schoenherr advised HS Timber on the deal. Cobalt reportedly advised HS Timber as well.
The transaction remains contingent on regulatory approval.
According to TGS Baltic, by selling Vika Wood, one of the largest and most efficient sawmills in the Baltic region, Bergs Timber is pursuing its strategy of focusing on the production and sale of processed wood products. Vika Wood annually produces approximately 300,000 cubic meters of coniferous-sawn timber.
The TGS Baltic team included Partner Andra Rubene and Senior Associates Anna Vaivade, Dita Busa, and Alina Lepere.
The Schoenherr team included Partners Maximilian Lang, Christian Herbst, and Volker Weiss, Attorney at Law Beatrix Schima, and Associates Markus Fasching and Alexandru Caprau.
