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Litgrid Becomes the Only Shareholder of UAB Tetas

As a part of the reformation of the Lithuanian electricity sector and implementation of the 17 October 2012 decision of the board of the Lithuanian electricity transmission system operator Litgrid, on 7 January 2013 Litgrid signed a share exchange agreement with the Lithuanian electricity distribution network operator Lesto. Under the agreement, Litgrid handed over its shares in UAB Elektros Tinklo Paslaugos, which constitute 25.03% of the company’s share capital, to Lesto. In exchange, Lesto handed over to Litgrid its shares in UAB Tetas, which constitute 38.87% of the company’s share capital.
Thus Litgrid has become the sole owner of UAB Tetas.
UAB Tetas provides electricity network design, construction, repair and maintenance services to the electricity sector companies and the external market.
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