A large Swedish forest company Euroforest AB (publ) and Dasos Capital Oy have signed an agreement on the 22nd October 2018 in which Euroforest AB (publ) sells its Lithuanian timberland portfolio to a consortium led by Dasos, and formed by Dasos Timberland Fund II and its anchor investors. Dasos fund will acquire Euroforest AB’s (publ) entire operations in Lithuania.
“Euroforest has been the forerunner in investing in Lithuanian forest assets since 2009. After several years of intensive and successful acquisitions, the portfolio has reached a scale of critical mass, and Euroforest investments in Lithuania have come to its end. Further development of the established asset would require substantial investments in forest assets and advanced forest management systems. Consolidation and the current status allow a natural transfer of assets to a new owner. I would like to take this opportunity to thank Euroforest’s investors for continuous support in the past years. I’m also happy that the Lithuanian assets are going to be in good hands also in the future, as they will be managed by such a reputable and capable company as Dasos”, says Patrik Lingårdh, founder and Chairman of Euroforest AB (publ).
“Dasos has already a strong presence in the Baltic Sea region where wood demand is growing rapidly. We are very pleased to conclude this major transaction with Euroforest, strengthening further the position of Dasos as major wood supplier in the region. The large initial portfolio size, as well as the option for the right of first refusal on adjacent property sales, will provide us the scale needed for efficient operation. We appreciate the excellent work that Patrik has done in Lithuania by consolidating a large high-quality forest portfolio in a very fragmented market. We are confident that we can take the asset to a next level by focusing on sustainable certified forest management, including biological and silvicultural information systems, and leveraging on our Nordic experience in enhancing forest assets”, says Olli Haltia, the managing director of Dasos Capital Oy.
Euroforest AB (publ) (www.euroforest.se) is a Swedish company with headquarters in Linköping. The company acquires and manages forest land in Europe with aim to provide competitive shareholder value. Euroforest AB (publ) shares are traded in the market place of Alternativa aktiemarknaden, Sweden.
Dasos Capital Oy (www.dasos.fi) based in Helsinki, Finland, acts as an investment advisor to institutional investors, endowments, private banks, family offices and other clients interested in sustainable international timberland investing. Dasos generates returns in the form of net cash flows from sustainable forest management, forest certification and from utilising identified market and management inefficiencies.
For further information:
Patrik Lingårdh, Euroforest AB, +46 70 629 4322
Olli Haltia, Dasos Capital Oy, +358 40 901 0338
