Completion of the intra-group restructuring of car trade in Lithuania

Tallinn Department StoreShs

9.49 EUR 0.21%

• Charts
• News
• Analysen

Kaufen Verkaufen

TKM Grupp AS published a stock exchange announcement on 07.04.2025, announcing the restructuring carried out in Lithuania by its subsidiary TKM Auto OÜ, which organizes the activities of the car trade segment, the aim of which was to separate the KIA and Škoda business lines.

According to the demerger approval signed on 22.05.2025, UAB KIA Auto (the dividing company), which resumed using its previously used business name after the division, transferred the Škoda business line to the acquiring company, which is the company established on 28^th of May 2025 during the division and named Motus auto UAB. The division was entered in the Lithuanian Commercial Register on 28^th of May 2025.

The separation of the Škoda dealership and service business line will allow for more efficient focus on operations and thus achieve better results. TKM Group's strategic goal is to continue to expand in the automotive trade, focusing on developing the sales and service network of KIA and other car brands in the Baltic States, where the segment is the Group's second largest in terms of sales revenue and profit.

The creation of a subsidiary through a division will not have an impact on the consolidated financial results of the Group. The creation of a subsidiary is not considered to be the acquisition of a significant holding within the meaning of the Nasdaq Tallinn Stock Exchange Rules. The structuring described above will not have a significant impact on the activities of the TKM Group. The members of the supervisory board and management board of TKM Grupp AS have no other personal interest in the transactions.

Raul Puusepp
Chairman of the Management Board
Tel 731 5000
info@tkmgrupp.ee