Sorainen and Cobalt Advise on Sale of Kurekss and Kurzemes Granulas to HS Timber Group

"Sorainen advised the shareholders of Latvian sawmill Kurekss and its pellet-producing subsidiary Kurzemes Granulas on their sale to Austria-based HS Timber Group; Cobalt advised HS Timber Group. Kurekss, founded in 1995, employs about 150 people and operates a sawmill with 250,000 m³ annual capacity near Ventspils. Kurzemes Granulas produces roughly 70,000 tonnes of pellets annually."

Sorainen and Cobalt advised the parties to the transaction: Sorainen represented the shareholders of Kurekss and its subsidiary Kurzemes Granulas, while Cobalt advised the buyer, HS Timber Group. The transaction involved the sale of Latvian sawmill Kurekss and its subsidiary, pellet producer Kurzemes Granulas, to HS Timber Group, an Austria-based wood processing company. Kurekss, established in 1995, employs around 150 people and operates one of Latvia’s largest sawmills, with an annual capacity of 250,000 cubic metres of kiln-dried sawn timber. The sawmill is located near the ice-free port of Ventspils and is surrounded by extensive forest areas. Its subsidiary, Kurzemes Granulas, has produced approximately 70,000 tonnes of wood pellets per year since 2005. Sorainen represented the shareholders of Kurekss with a team composed by: Partner Nauris Grigals, Senior Associates Ieva Pruse and Marika Grunte, and Associates Alise Igale and Kate Berlaua. Cobalt represented HS Timber Group with a team composed by: Partner Ugis Zeltins and Senior Associates Ivo Maskalans and Kristine Ravina.

Sorainen and Cobalt Advise on Sale of Kurekss and Kurzemes Granulas to HS Timber Group

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