Merger of subsidiaries of AS Baltika


100% owned subsidiaries of AS Baltika OÜ Baltika TP and OÜ Baltika Retail are merging.

On 20 February 2015, OÜ Baltika TP and OÜ Baltika Retail executed a merger agreement according to which OÜ Baltika Retail is the acquiring company and OÜ Baltika TP the company being merged. Pursuant to the merger agreement OÜ Baltika TP transfers all its assets (rights and obligations) to OÜ Baltika Retail. OÜ Baltika TP as the company being merged is considered to be ended in accordance with Section 403(2) of the Commercial Code upon registration of the merger in the Commercial Registry.

OÜ Baltika TP is subsidiary of AS Baltika that operated real estate until the sale of Tallinn, Veerenni 24 office building and land on 31 July 2012. Since then the entity has been dormant. The goal of the merger is to minimise the administrative management costs of the company being acquired.  

Proposed merger is within the Group and therefore results in no changes to the Baltika Group assets, rights and obligations amount, content and nature. The merger will have no economic effect on the other subsidiaries of the Group. 

The parties to the merger agreement are considered as related parties under the rules and  regulations of the Tallinn Stock Exchange. The members of the Supervisory and Management Board of AS Baltika do not have any personal interest in the transaction.

 

Meelis Milder
Chairman of the Management Board

meelis.milder@baltikagroup.com