The Lithuanian Competition Council has approved of Rautakirja's acquisition of the minority shares in its Lithuanian press distribution subsidiary UAB Impress Teva, anoounced in 17 oOctober 2007. After the transaction, Rautakirja Oy will own 100 % of the company.
Simultaneously with the transaction, Impress Teva's leadership changes. The previous Managing Director Terese Morkuniene and Director Simona Morkunaite, both minority shareholders in the company until now, will leave the company according to previous agreement.
Mr. Vigintas Bartasevicius has been nominated as the new Managing Director. He has begun his work in Impress Teva on 28 January, 2008. Vigintas Bartasevicius has previously been employed with e.g. the Finnish Tikkurilan maalitehdas in charge of the company's Lithuanian sales and its development.
Rautakirja is the market leader in kiosk operations, press distribution and movie theatres in Finland and the Baltic countries. Additionally, it leads the Finnish and Estonian markets for bookstores, and also the Dutch market for press distribution. Its press distribution business and kiosk operations have also expanded into the Russian market. Rautakirja is part of the SanomaWSOY Group.