Norvík hf made an offer to acquire the remaining 41.33% stake in Bergs Timber AB (publ) (OM:BRG B) for SEK 640 million on October 27, 2023. The offer per share is SEK 44.50 in cash for each share in Bergs Timber. The total value of the Offer, based on all outstanding shares in Bergs Timber, amounts to approximately SEK 1.54 billion. The consideration payable in connection with the Offer will be financed through Norvik?s own cash and credit facilities, made available by the parent company Norvik Hf. The Offer is not conditional upon financing. The offer is accepted to the extent that Norvik becomes the holder of shares corresponding to more than 90% of the outstanding shares in Bergs Timber, and the receipt of all necessary regulatory, governmental, or similar clearances, approvals, decisions, and other actions from authorities or similar, including from competition authorities, including competition authorities in Iceland and Latvia. in each case on terms which, in Norvik?s opinion, are acceptable. As of November 7, 2023, The Competition Council has received a merger report on a transaction in which Icelandic company Norvik hf is taking over Swedish company Bergs Timber, the owner the Latvian companies Vika Wood and Bitus Latvia, according to information published by the Council. The acceptance period for the Offer is expected to commence on or about November 1, 2023, and expire on or about November 29, 2023. The commencement of settlement of the offer is on or about December 6, 2023.

Handelsbanken Capital Markets acted as financial advisor and also provide fairness opinion to Bergs Timber AB (publ) (OM:BRG B). Jesper Schönbeck, Ulrich Ziche, and David Olander of Advokatfirman Vinge KB acted as legal advisor to Bergs Timber AB (publ) (OM:BRG B). Erneholm Haskel AB acted as financial advisor to Norvík hf. Advokatfirman Cederquist KB acted as legal advisor to Norvík hf.