MOSCOW, RUSSIA: Sistema PJSFC has sold 8.7% of the ordinary shares of PJSC Segezha Group, a leading timber holding company, to Bonum Capital Ltd for $150 million.
Following the closing of the transaction, the Corporation’s stake in the share capital of Segezha Group stood at 62.2%.
Prior to the closing of the transaction, Segezha Group also completed the acquisition from Bonum Capital Ltd of 100% of the share capital of LLC Inter Forest Rus, the owner of 24 timber industry enterprises as well as a substantial forest resource base in the Krasnoyarsk and Irkutsk regions.
As a result of the acquisition of Inter Forest Rus, the Holding strengthens its positions as a Russian and European leader in timber production and nearly doubles its annual allowable cut to 23.6 million cubic metres. The Holding becomes one of the largest forest leaseholders in the world with 16 million hectares of forest land.
Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services.
The company was founded in 1993. Revenue in 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema’s global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on Moscow Exchange. www.sistema.com