Abdominal muscle Grigeo exchanges creased cardboard business to auxiliary organization

Lithuania-based clean family paper organization AB Grigeo has finished the recently declared exchange of creased cardboard generation business to its completely possessed backup UAB Grigeo Packaging.

In November, the organization declared the move in an offer to help the development of its ridged cardboard generation arm and empower quick administration of the business.

The exchange was done by expanding the approved capital of UAB Grigeo Packaging and paying the issued shares by AB Grigeo through a mix of advantages, rights and commitments relating to the stripped business, against new customary offers of UAB Grigeo Packaging.

Both the elements consented to an offer membership arrangement to exchange the ridged cardboard generation business to UAB Grigeo Packaging.

As a piece of the arrangement, AB Grigeo will procure all the recently issued UAB Grigeo Packaging shares after the Articles of Association of UAB Grigeo Packaging.

"Abdominal muscle Grigeo will procure all the recently issued UAB Grigeo Packaging shares after the Articles of Association of UAB Grigeo Packaging."

The estimation of the stripped business is evaluated to be €15.2m, as indicated by an autonomous business valuation report.

In October a year ago, the review panel of AB Grigeo opined that the exchange of the folded business to UAB Grigeo Packaging based on the offer membership ascension is reasonable and sensible.

Stomach muscle Grigeo and UAB Grigeo Packaging will proceed with their creation exercises at a similar area in Vilnius, inside the Vilnius City district of Lithuania.

The parent organization will concentrate on the creation of tissue paper items, while UAB Grigeo Packaging will do folded cardboard yield.