Leading pellets producer Latgran sold to Graanul Invest

BillerudKorsnäs AB and Baltic Resources Ab have signed an agreement with AS Graanul Invest for sale of its shares in SIA Latgran, a leading Latvian based pellets producer.

The company was valued at EUR 104 million on a cash and debt free basis, corresponding to a multiple of 7x Latgran’s EBITDA for 2014.

The transaction is expected to close in July 2015, subject to certain closing conditions.

Superia Corporate Finance acted in partnership with SEB Corporate Finance as financial advisers to the vendors in the transaction.