Metsä Group Completes Sale of Russian Subsidiaries to VLP Group
On Tuesday, Metsä Group announcing it has successfully completed a transaction in which the ownership in the group’s Russian subsidiaries Metsä Svir LLC, Metsä Forest St. Petersburg LLC, Metsä Forest Podporozhye LLC, and Metsä Board Rus LLC has transferred to VLP Group.
The parties have agreed not to disclose the purchase price of the transaction, according to a press release.
VLP Group operates in forestry and forest industry mainly in the Vologda region of Russia. Metsä Group held a minority ownership in VLP Group from 2003–2017.
In 2022, Metsä Group stopped its business operations in Russia, including the operations of the Svir sawmill, wood procurement, and paperboard sales. As result of the completed transaction, Metsä Group no longer holds any assets in Russia, the company said.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.