14.05.2024, 23:12
The Finnish sawmill concern has sold all its subsidiaries in Russia
Source: OREANDA-NEWS
OREANDA-NEWS Finnish sawmill concern Metsä Group has sold all its subsidiaries in Russia, the company announced on Tuesday.
"The Metsä Group has completed a business combination deal, as a result of which the ownership of Russian subsidiaries ... passed to the Vologda Timber Industry Group. The parties agreed not to disclose the value of the transaction," the press release said.
We are talking about four subsidiaries in the Leningrad region: Met Svir, Met Forest St. Petersburg, Met Forest Podporozhye and Met Bord Rus. After the conclusion of this transaction, the Finnish company no longer has assets in Russia.
Vologda Timber Producers (VLP) is a timber company operating mainly in the Vologda Region. The Metsä Group was a minority shareholder of VLP from 2003 to 2017, the concern notes.
The Metsä Group ceased its activities in Russia after the start of a special military operation in Ukraine.
"The Metsä Group has completed a business combination deal, as a result of which the ownership of Russian subsidiaries ... passed to the Vologda Timber Industry Group. The parties agreed not to disclose the value of the transaction," the press release said.
We are talking about four subsidiaries in the Leningrad region: Met Svir, Met Forest St. Petersburg, Met Forest Podporozhye and Met Bord Rus. After the conclusion of this transaction, the Finnish company no longer has assets in Russia.
Vologda Timber Producers (VLP) is a timber company operating mainly in the Vologda Region. The Metsä Group was a minority shareholder of VLP from 2003 to 2017, the concern notes.
The Metsä Group ceased its activities in Russia after the start of a special military operation in Ukraine.
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