Borg group to acquire Sandavágur timber merchant

The Borg cooperative will take over Sandavágur’s timber trade operations after competition authorities received formal notice of the planned acquisition, Faroese broadcaster KVF reports.

Under the deal, Dirvi—a member of the Borg group—will assume Sandavágur Timber’s partnership shares, while Kovin, the current owner, will sell its entire stake in the business to Dirvi. Both parties maintain that competition between Borg and Sandavágur Timber has been limited and will not change following the merger.

The Faroese Competition Authority has set a June 17 deadline for public comments on the proposed takeover.