Regarding the intent to establish a subsidiary company

11 Feb 2021 14:05

Regarding the intent of UAB “Ignitis”, managed by AB “Ignitis grupė”, to establish a subsidiary company in Finland

We inform that UAB “Ignitis” (hereinafter – Company), which is controlled by AB “Ignitis grupė”, intends to initiate the procedure analysis and preparatory works of establishing a subsidiary company in Finland.

The Company currently directly operates natural gas supply activities in Finland itself. However, after evaluating the potential of the Finnish market, the Company adopted a decision to initiate the preparatory action to establish a new company in Finland. It is estimated that, after the new company is established, a simpler, faster and more effective way of operating in the Finnish market will be created, which would strengthen the development of the Company’s services and sale opportunities.

After the preparatory works are complete, the final decision on the subsidiary company’s establishment is estimated to be made in Q1 2021. The Company would own 100% of the established subsidiary company’s shares.

AB “Ignitis grupė” will inform about further decisions according to the procedure set out in the legal acts.

For more information please contact:

Artūras KetleriusHead of Public Relations at Ignitis Grouparturas.ketlerius@ignitis.lt+370 620 76076