Situation with Yevtushenkov not to affect Sistema's purchase of Investlesprom assets - Khudilaynen
PETROZAVODSK. Sept 23 (Interfax) - Investments of AFK Sistema in the timber, woodworking and pulp and paper industry of Karelia do not depend on the problems Russian law enforcement has with Sistema chairman Vladimir Yevtushenkov, the Head of the Republic of Karelia Alexander Khudilaynen said on Tuesday.
"The deal for AFK Sistema to purchase Segezha Pulp and Paper Mill [an Investlesprom asset] will be completed. The company's investments in Karlia's industry do not depend on the situation surrounding Vladimir Yevtushenkov," he told Interfax.
Khudilaynen added that it was up to law enforcement agencies to legally assess the situation with Yevtushenkov.
It was previously reported that despite Yevtushenkov being placed under house arrest, Sistema would continue operating as normal and carrying out its strategy. The company said it was planning to finalize a number of deals soon that had previously been announced. "We are also in the final stages of talks on acquiring several new assets. We view investment possibilities with optimism," a Sistema representative has told Interfax.
In April of this year, Sistema signed a binding with the Bank of Moscow , which is part of VTB , to purchase Investlesprom assets - OJSC Segezha Pulp and Paper Mill and LLC Derevoobrabotka-Proekt. LLC Lesinvest, which belongs to AFK Sistema, is the buyer.
The value of the deal and the amount of the Investlesprom assets' debt has not been disclosed by AFK.
