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Set up of OÜ Baltika Retail
19
Nov '10
As part of its activity-based reorganization, Baltika Group established a holding company, OÜ Baltika Retail, into which will be transferred the Group's interests in all its retail subsidiaries that used to be directly owned by AS Baltika.

The holding company was established with a share capital of EUR 2500 and its sole shareholder is AS Baltika. The CEO of OÜ Baltika Retail is Meelis Milder. The core activity of OÜ Baltika Retail is management of interests in retail companies; the entity is not going to carry out any business activities of its own.

The transaction does not constitute a transaction with a related party and it has no impact on the financial results of AS Baltika.

The Baltika Group is a rapidly growing fashion retailer in the Baltic States, Central and Eastern Europe. The Group operates four retail concepts: Monton, Mosaic, Baltman and Ivo Nikkolo. Baltika employs a vertically integrated business model which means that the Group controls all stages of the fashion process: design, manufacturing, supply chain management, distribution/logistics and retail sales. Such a model enables Baltika to offer new fashion goods every week and assures high availability of basics.

Baltika Group

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