Segezha Group has completed the acquisition of LLC Inter Forest Rus from Bonum Capital Ltd. Inter Forest Rus, which comprises 24 forest industry assets and a substantial forest resource base in the Krasnoyarsk and Irkutsk regions, is expected to be consolidated into Segezha Group’s financial reporting by the end of December 2021.
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, Segezha Group will almost double its annual allowable cut (AAC) to 23.6 million m3 and become one of the world’s largest lease-holders of forest land with 16 million ha of forests under management.
Inter Forest Rus was created as a holding company to consolidate quality assets in the forest industry. Inter Forest Rus currently comprises the core assets of LDK Igirma, Trans-Sibirskaya Lesnaya Kompaniya and Priangarsky LPK, as well as 20 companies in segments including forest ownership, logistics and operations.