The transaction is expected to close in the first quarter of 2022. In April, Segezha raised US-$400 million in an initial public offering in Moscow, and announced its plans to use part of the proceeds for acquisitions. This is according to bloomberg.com.
Inter Forest owns and operates wood processing and logging businesses in the Irkutsk and Krasnoyarsk regions in Siberia, among which four wood processing companies and a river fleet of 98 vessels. Annual logging amounts to 10.9 million m³.
According to bloomberg.com, Segezha Group’s lumber production will nearly double to 3.2 million m³, while the production of pellets will grow 1.8 times to 380,000 tons. The plywood production capacity is expected to increase by 40,000 m³, bringing the total to 232,000 m³.
Bonum Capital has entered into an agreement to acquire a US-$150 million stake in Segezha Group from AFK Sistema PJSC and, according to a statement from the investment firm, it could become the largest minority shareholder with around 13%.
