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Segezha Group

December 21, 2021

Segezha Group completes acquisition of Inter Forest Rus

Segezha Group (MOEX: SGZH), a subsidiary of Sistema PJSFC and a leading vertically integrated holding company in the timber industry performing a full cycle of operations from logging to advanced wood processing, announces that it 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 Groupís 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 mln cu m and become one of the worldís largest lease-holders of forest land with 16 mln ha of forests under management.

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Segezha Group (Moscow Exchange: SGZH) is a leading Russian vertically integrated holding company in the forest industry performing a full cycle of operations from logging to advanced wood processing. The Group is among the largest forest users in Russia. It holds 10.4 million hectares of leased forest resources and 12.7 million cubic meters/year of annual allowable cut. 82% of the Groupís requirement for wood is met by its own harvesting operations. 83% of leased forest areas are voluntarily certified in accordance with generally recognized international standards. Segezha Group manages its forests in a sustainable way and introduces intensive forestry models. Over the past seven years, the Groupís investments have totaled approximately RUB 50 billion. It is the #1 producer of paper for multiwall sacks, industrial paper sacks and sawn timber in Russia, the #2 producer globally of paper for multiwall sacks and industrial paper sacks, and the #5 producer globally of birch plywood. Segezha Group owns assets in 14 countries. The main production facilities are located in Russia. The Group exports its products to more than 100 markets worldwide. Its enterprises employ more than 14,600 people. Learn more at https://segezha-group.com/en/

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. Inter Forest Rus has one of the largest annual allowable cuts in Russia (88% softwood) at approximately 10.9 million cubic meters on a consolidated basis. Its production capacity is 1.5 million cubic meters of sawn timber at four sawmills, 35,000 cubic meters of plywood and 170,000 tons of pellets. Its main markets include China, Japan, the EU and Egypt, as well as Russia and other CIS countries. The company employs about 5,000 people. OIBDA for 2021 is expected to be approximately RUB 11 billion.

Bonum Capital is an investment group founded in 2013 in Moscow. The companyís founder and sole owner is Murat Aliev. Bonum Capital invests in various assets including international public markets, private equity, venture capital and real estate in Russia. The companyís primary business is proprietary investing on public markets with focus on long-term concentrated positions. Bonum Capital has been involved in all major recent CIS IPOs, including OZON, Kaspi.kz, Segezha Group, Fix Price and United Medical Group (EMC). Bonum Capital has expertise in purchasing and developing distressed assets with high potential for value growth, including through synergies with other assets of industry players.





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