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Linnamae brings Magnum under Up Invest in Estonia

BC, Tallinn, 27.01.2016.Print version
Estonian businessman Margus Linnamae, who used to own the pharmaceuticals and hospital supplies seller Magnum AS directly via a company registered in the Netherlands, brought Magnum under his holding company Up Invest OU earlier in January 2016, informs LETA/BNS.

Magnum AS, formerly a holding of Dutch-registered MM Holdings B.V., on Jan. 16 became a holding of Up Invest OU, which in turn belongs to MM Holding B.V., it appears from entries in the Commercial Register.

 

The change is of technical nature and the relations between the companies or their management structure have not changed, Up Invest spokesperson Tiina Ansip told BNS.

 

Magnum AS is a retailer and wholesaler active in the Baltic countries and Finland. Other holdings of Up Invest include the news agency BNS.

 

Magnum operates in the wholesale and logistics of pharmaceuticals, hospital supplies and other medical goods and runs pharmacies under the Apotheka and A-Aptiekas trade marks in Estonia and Latvia. The company's result for 2014 was a loss of 655,000 euros on revenue of 299.2 million euros.





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