OREANDA-NEWS. June 8, 2012. OptiGroup Invest OU, a subsidiary of AS Tallinna Kaubamaja, entered into a contract for acquisition of 100% of the shares of AS Viking Motors. Under the contract, the transaction will be concluded after obtaining the necessary approvals from the Estonian Competition Board, and the car manufacturers concerned. The nominal value of the shares amounts to 222,600 EUR (14,000 common shares with a nominal value of 15.9 EUR). As a part of the transaction, Tallinna Kaubamaja Kinnisvara AS also acquired the immovable at A. H. Tammsaare tee 51, Tallinn, housing the sale salon of AS Viking Motors.

By acquiring the shares of AS Viking Motors, Tallinna Kaubamaja Group enlarges its segment of car trade that has been one of the strategic segments for the business activities of the group since 2007. By virtue of this transaction, in parallel to the export and sale of KIA vehicles in all the Baltic States, the salon in Tallinn will launch the sale of Opel, Saab, Corvette, Cadillac and Hummer vehicles, providing an opportunity to expand the group's activities to the segment of commercial vehicles, and additional sale and service premises for better customer service. 

OptiGroup Invest OU is a subsidiary of AS Tallinna Kaubamaja in the segment of car trade, incorporating the car trade enterprises belonging to the group.

This transaction is neither an acquisition of a qualifying holding nor a transaction with a connected person within the meaning of section “Requirements for Issuers” of the NASDAQ OMX Tallinn Stock Exchange rules, and it does not have a significant effect on the activity of AS Tallinna Kaubamaja. The members of the supervisory and management boards at AS Tallinna Kaubamaja have no other personal interest in the transactions.