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WhatWood Blog Woodworking Segezha Group plans to consolidate 100% of CJSC Novoyeniseiskiy LHK

Segezha Group plans to consolidate 100% of CJSC Novoyeniseiskiy LHK

28 May 2021 ` 20:59  

On May 20, 2021, as a part of the phased consolidation of the assets of CJSC Novoyeniseiskiy LHK , Segezha Group signed an agreement on the acquisition of a minority stake in Tegli Holdings Ltd holding a 100% stake in CJSC Novoyeniseiskiy LHK. It is planned to complete the transaction by July 31, 2021, provided that the terms and conditions of the agreement are fulfilled.

This February, Segezha Group entered into an option agreement on the purchase from Trust Bank (PJSC) of a majority stake in Tegli Holdings Ltd. and acquired from the Bank and Troika Leasing LLC the rights of claim with regard to the credits and debts of CJSC Novoyeniseiskiy LHK totalling RUB 11.5 bln for RUB 2.3 bln. The execution of the option for the purchase of the majority stake is conditional on the occurrence of specific circumstances.

The acquisition of the minority stake in the Company will allow Segezha Group to further consolidate 100% of control over CJSC Novoyeniseiskiy LHK and integrate the asset into the Group’s perimeter.

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