Baltic, Legislation, Markets and Companies, Retail

The new company name "reflects the long-term strategy of Maxima Group better, and at the same time, shows that it provides services and supervises Maxima grupe", the company explained.

According to data provided by Lithuanian State Enterprise Centre of Registers, UAB Franmax at this time cannot be found in the Register of Legal Entities.

Lithuanian business daily Verslo žinios already reported that Maxima owner — the holding company Vilniaus prekyba, is planning to transfer the management of the "Akropolis" shopping malls and entertainment centres in Lithuania and other countries from the Netherlands and Malta to Estonia. Possibly this could happen next year.

If the plan is carried out, then management of the shopping malls by the Dutch company Metodika B.V. and Maltese Relvit Ltd will be transferred to the Estonian company Franmax OU.