December 23, 2010 - Assignment

RusForest AB acquire Russian forest companies

RusForest AB has completed the acquisition of 86 percent of OAO LDK-3 and 100 percent of OOO Infa.

LDK-3, a sawmilling company in the city of Arkhangelsk in North West Russia, is one of the largest sawmill enterprises in the Arkhangelsk region, with a monthly sawnwood production of around 10,000 m3 and planed products of 1,800-2,000 m3. Infa is a planing mill at the same site.

RusForest aims to become a leading independent integrated forestry and sawmilling company in Russia, with an annual harvest of up to 2 million m3 and an annual sawn wood production of 500 - 600,000 m3 during the next four years.

RusForest AB has been advised on the matter by Mannheimer Swartling. The firm’s team handling the transaction was led by Victor Topadze, assisted by Vera Gorbacheva and Alexander Potapov.