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Russian major investor AFK Sistema buys Finnish Honkarakenne

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Russian major investor AFK Sistema buys Finnish Honkarakenne

AFK Sistema, a major private investor in the real segment of Russia's economy, intends to buy Honkarakenne, a Finnish producer of wooden houses, at a price of 1,5 euro per share, says the company’s press release.


“Honka is one of the largest manufacturers of wooden houses in the world, it has a well-known premium brand, established channels of distribution and unique technological solutions. Purchase of Honka conforms to our strategy of the creation of the global leader of wooden house construction,” states the document.

The company’s president, Mikhail Shamolin claims that its public offer is quite attractive for Honda shareholders: AFK Sistema is ready to buy out stocks at a premium market price.

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