Grigeo Tissue, a subsidiary of Grigeo AB, has become the legal entity responsible for the tissue paper business. On April 30, 2024, the Company transferred its tissue paper business to its 100% owned subsidiary in exchange for an increase in its authorized capital and newly issued shares. This transfer essentially moved all assets, rights, and obligations related to the tissue paper business to Grigeo Tissue, making it 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 the authorized capital is increased, Grigeo AB will acquire newly issued shares of Grigeo Tissue. This exchange will formalize the transfer of the tissue paper business from the Company to its subsidiary.
Tomas Jozonis, CEO of Grigeo AB, can be contacted for more information at +370 5 243 58 01.