Lithuanian retailer Maxima Grupė has announced that it has transferred the shares of Maxima International Sourcing to Maxima LT.
The move makes Maxima LT the sole shareholder of Maxima International Sourcing.
The transfer of shares was executed as a payment for the newly issued shares of Maxima LT, which increases the company’s authorised capital to nearly €107.6 million.
The issue price of the newly issued shares amounts to €38.2 million.
'Consolidate' The Purchasing Teams
Maxima Grupė CEO, Jurgita Šlekytė, said, “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.”
Maxima International Sourcing will continue to provide centralised purchasing and negotiation services for Maxima Grupė’s retail chains in the Baltic countries, Poland and Bulgaria, the company added.