On 2 September 2020, Maxima Grupė transferred the shares of its subsidiary Maxima International Sourcing to another of its subsidiaries Maxima LT.
“The decision was taken in order to consolidate the two companies’ purchasing teams, thus taking advantage of their synergies and ensuring the highest quality and the best prices for Maxima’s customers,” says Maxima Grupė CEO Jurgita Šlekytė.
The shares of Maxima International Sourcing were transferred as a contribution in kind. They serve as payment for the newly issued shares of Maxima LT that increase the company’s authorised capital. After this action, Maxima LT becomes the sole shareholder of Maxima International Sourcing.
By issuing the new shares, Maxima LT is increasing its authorised capital to nearly EUR 107.6 million. The issue price of the newly issued shares totals EUR 38.2 million.
The activities that Maxima International Sourcing has conducted until now will not change – the company will continue to provide centralised purchasing and negotiation services for Maxima Grupė’s retail chains in the Baltic countries, Poland and Bulgaria.
