Cobalt Secures Latvian Merger Clearance for HS Timber Group's Acquisition of Kurekss

"Cobalt advised Nextwood Two (HS Timber Group) on obtaining unconditional merger clearance from the Latvian Competition Council for the acquisition of Kurekss and its subsidiary Kurzemes Granulas. The transaction reinforces HS Timber’s presence in Latvia following its January 2025 acquisition of Vika Wood. Earlier this year Cobalt and Sorainen advised on the sale of Kurekss."

Cobalt advised Nextwood Two, a member of the HS Timber Group, on securing unconditional merger clearance from the Latvian Competition Council for the acquisition of Kurekss and its subsidiary Kurzemes Granulas. The transaction concerns the purchase of Kurekss, a Latvian sawmill, and Kurzemes Granulas, a wood pellet manufacturer. According to Cobalt, the acquisition strengthens HS Timber Group’s presence in Latvia following its earlier acquisition of Vika Wood in January 2025. Both Kurekss and Vika Wood are key players in Latvia’s sawmilling sector and are located in close proximity in the country’s north-west. Earlier this year, Cobalt and Sorainen advised on the sale of Kurekss to HS Timber Group. Cobalt represented Nextwood Two, a member of HS Timber Group, with a team composed by: Partner Ugis Zeltins; Senior Associate Ivo Maskalans; Senior Associate Kristine Ravina.

Cobalt Secures Latvian Merger Clearance for HS Timber Group's Acquisition of Kurekss

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