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International Internet Magazine. Baltic States news & analytics Friday, 08.12.2023, 06:22

Giga buying wood processing company Textuur in Estonia

BC, Tallinn, 07.12.2020.Print version
AS Telver, a subsidiary of AS Giga, wishes to acquire 100% of the shares in the Estonian wood industry company AS Textuur, reports LETA/BNS.

It appears from a notice of concentration filed with the Competition Authority that AS Silva and AS Telver signed an agreement on the purchase and sale of shares on Nov. 20 under which  Telver is buying from Silva 35% of the shares in Textuur, thereby bringing its holding in the company to 100 percent.

Telver currently holds 15% of the shares in Textuur and a Telver subsidiary, OU Telver Investeeringud, 50%.

The purpose of the concentration and its economic rationale is Telver's wish to make Textuur's business more productive and efficient, which requires making additional investments in the company's production base. 

Since the co-shareholder, Silva, has no interest in making additional investments or possibilities to do it, it wishes to exit the business.

Telver is a company active in the field of forestry and mining, whose main areas of operation are the purchase, production and sale of wood chips, purchase and sale of forest land, as well as the extraction and sale of gravel and sand.

Telver is a company of the AS Giga group, which is active in multiple fields ranging from the construction and reconstruction of heating and cooling networks and general construction to peat production and rent of vehicles.

The beneficiary of Giga, a company managed by Janek and Franek Veeber, is the Dutch registered company Stichting Administratiekantoor JKV, according to Creditinfo.

Textuur is a wood industry company whose main areas of business are the manufacture and sale of glued timber products, production and sale of sawn timber, as well as production and sale of wood chips, sawdust and sawdust briquettes. 

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