UPB shareholders have agreed to transfer the retail company H&L Studija from the UPB Group to individual shareholders of UPB – JSC MOM Holding, which is owned by Madara More. The agreement includes also the branch of wood-aluminum structures manufacturing and retail.
All employees keep their existing jobs and continue to work as before – in the showrooms in Riga and Liepaja, as well as in the wood-aluminum glazed structures plant in Grobiņa. All warranty liabilities and agreements with the existing customers are also remaining in force.
The acquisition process is expected to be completed by the beginning of March this year.