RusForest received Russian anti-monopoly approval for LDK-3 acquisition
Dec 13, 2010. RusForest AB has received Russian anti-monopoly approval regarding the acquisition of initially 86% of LDK-3, a sawmilling operation located in the city of Arkhangelsk, in North West Russia, and 100% of Infa, a planing mill at the same site. The anti-monopoly approval was the last remaining condition for completion of the acquisition, which is now expected to take place before the end of the year.
Dec 13, 2010. /Lesprom Network/. RusForest AB has received Russian anti-monopoly approval regarding the acquisition of initially 86% of LDK-3, a sawmilling operation located in the city of Arkhangelsk, in North West Russia, and 100% of Infa, a planing mill at the same site. The anti-monopoly approval was the last remaining condition for completion of the acquisition, which is now expected to take place before the end of the year, as the company said in a press release received by Lesprom Network.
LDK-3 currently has approximately 848 shareholders and through the acquisition of 86% of LDK-3, RusForest will be obliged to make a mandatory bid for the remaining shares.
RusForest is a forestry and sawmilling company operating in Eastern Siberia, Russia, and controlling long term leases covering over 850 thousand hectares of forest land.