Mandate Vinge advises Bergs Timber in connection with its in kind acquisition of Norvik’s timber operations in the Baltics and the United Kingdom.

June 28, 2018

Vinge has advised Bergs Timber AB (publ) (”Bergs Timber”) on legal matters in connection with its acquisition of Norvik hf’s (“Norvik”) timber operations in the Baltics and the United Kingdom.

The acquisition of Norvik’s timber operations in the Baltics and the United was approved by the extraordinary shareholders’ meeting in Bergs Timber held on May 14, 2018. The acquisition was made by an issue in kind where the contribution consisted of 170 million shares in Bergs Timber as well as a cash payment of SEK 270 million, amounting to a calculated value of approximately SEK 719 million as per April 17, 2018. The newly issued shares were admitted to trading on Nasdaq Stockholm, Small Cap, on June 7, 2018.

Through the acquisition, Bergs Timber will become a significant participant within the sawmill market, as its sawmill capacity increases from approximately 530,000 m³ per year to approximately 920,000 m³ per year. The acquisition will also increase Bergs Timber’s product processing and thus has the capacity of limiting Bergs Timber’s sensitivity to fluctuations in the economic cycle. The group’s raw materials base is also broadened while risks are spread as part of the production is based on costs in euro.

Vinge’s team primarily consisted of Jesper Schönbeck, Ulrich Ziche, Joel Wahlberg, Sabina Börjesson, Maria Dahlin, Johanna Wiberg, Ramin Baradaran, Pauline Lagerstrand, Boris Kotur, Vilhelm Rondahl and Fredric Reissmüller.
 

Clarification of the interpretation of ”nearest suitable railway station”

Road transport performed by Samskip Sia in Sweden has been confirmed to be within the framework of a permitted combined transport through a decision of the Administrative court of Falun in Sweden. The central question in the case was how to interpret the term “nearest suitable railway station”
June 30, 2020

DAC 6 – EU Directive concerning reportable cross‑border tax arrangements

DAC 6 is a EU Directive which entails that advisers are subject to a duty to notify the relevant tax authorities concerning their client’s cross‑border arrangements. The purpose of the information disclosure obligation is to combat tax evasion, tax fraud and tax avoidance.
June 04, 2020

The importance of continuous focus on compliance procedures in disrupting times

A large number of corporations will most certainly be severely impacted by the effects of the Covid-19 pandemic. The new challenges will impact companies’ compliance risks, which are likely to be different and, to a certain extent, increased. It is crucial that - also in disrupting times - internal compliance procedures are maintained and that new risks are identified and mitigated.
May 28, 2020