Segezha Group has announced that it has agreed to purchase the assets of LLC Inter Forest Rus from Bonum Capital Ltd for $515 million. Inter Forest’s assets include wood processing and logging enterprises as well as four woodworking plants, one plywood plant, a river fleet of 98 vessels, and a substantial forest resource base in the Krasnoyarsk and Irkutsk regions of Russia.
As a result of the transaction, Segezha Group will strengthen its position as a leading producer of sawn timber in Russia and Europe and will become a global top-10 producer in the segment. At the same time, the company will almost double its annual allowable cut (AAC) to 23.6 million m3 and become one of the world’s largest leaseholders of forest land with 16 million ha of forests under management.
The transaction is expected to close in 2022 Q1 following customary regulatory and corporate approvals, as well as fulfilment of other conditions precedent agreed by the parties.
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Segezha Group to acquire Inter Forest Rus for $515 million