Grigeo AB, soon to be known as AB Grigeo Group, has successfully completed the structural changes within the Grigeo group of companies. On April 30, 2024, the Company transferred its tissue paper business to its 100% owned subsidiary, UAB Grigeo Tissue. This subsidiary is now the legal entity responsible for the tissue paper business, with its information registered with the Register of Legal Entities of the Republic of Lithuania.
As a result of this transfer, UAB Grigeo Tissue’s authorized capital was increased and newly issued shares were paid for by the Company in exchange for the business. This essentially made Grigeo Tissue an independent economic unit within the company. Once the Articles of Association of Grigeo Tissue are registered with the Register of Legal Entities of the Republic of Lithuania and authorized capital is increased, it will acquire newly issued shares from AB Grigeo Group. This exchange will formalize the transfer of the tissue paper business from AB Grigeo Group to its subsidiary.
Tomas Jozonis, CEO of AB Grigeo Group can be reached at +370 5 243 58 01 for more information on these changes.
