AB Grigeo transferred part of its business (corrugated cardboard production) to a subsidiary company

AB Grigeo transferred part of its business (corrugated cardboard production) to a subsidiary company

January 9, 2019 Off By Sebastian Reisig

Taking into account the growing volume of the production and sales of corrugated cardboard and striving to ensure a more efficient management of corrugated cardboard production business, its further development and business profitability increase, on the 2nd  of January, 2019 AB Grigeo transferred a part of its business – the corrugated cardboard production business (hereinafter – the Business) to its 100 % owned subsidiary UAB Grigeo Packaging, legal entity code 302329061, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania, data about the company is collected and stored in the Register of Legal entities of the Republic of Lithuania

The transfer of the Business to UAB Grigeo Packaging is implemented by increasing the authorized capital of UAB Grigeo Packaging and paying for the entire new issue of shares by AB Grigeo by contribution other than in cash, i.e. by the Business, as a complex of assets, rights and obligations that from an organizational point of view is an autonomous economic unit, in exchange for new ordinary shares of UAB Grigeo Packaging.