Beyaz Fleet's Latvian subsidiary capital raised to 4 million euros
Beyaz Filo Oto Kiralama A.Ş. announced that it has completed the increase of the issued capital of its wholly owned Latvian subsidiary Beyaz Baltic Mobility SIA from 50.000 euros to 4.000.000 euros. The company paid the entire 3.950.000 euro increase in cash, and the increase was registered with the official authorities in accordance with the relevant national legislation. The company also decided that the subsidiary may establish new companies abroad to expand its dealer network.
What does it mean?
The company put 3.950.000 euros in cash into its Latvian subsidiary, raising its capital to 4 million euros, and approved the subsidiary setting up new companies abroad.
What changes?
Previously the subsidiary's issued capital was 50.000 euros; it is now registered at 4.000.000 euros.