Sistema completes sale of minority stake in Segezha Group

Sistema PJSFC announces the closing of the sale of 8.7% of the ordinary shares of PJSC Segezha Group to Bonum Capital Ltd for $150 million. Following the closing of the transaction, Sistema PJSFC 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 m³. The Holding becomes one of the largest forest leaseholders in the world with 16 million ha of forest land.