Aktsiaselts Infortar Exits From The Taxi Service Business Sector

(MENAFN- GlobeNewsWire - Nasdaq) AS Tallink Takso plans to cease operations within the next month and will undergo liquidation. The company will immediately begin negotiations to terminate taxi service agreements and other contractual obligations. Contractual taxi services will continue until all obligations are fulfilled, while non-contractual clients will be serviced for the next month. As part of the liquidation process, 14 employees from the office and call center will be made redundant.
According to Infortar's managing director, Martti Talgre, both the market and the company's strategic focus have changed.“Tallink Takso was initially established to serve Tallink's passengers. However, the market situation has fundamentally changed, and from the customer's perspective, accessing fast and high-quality taxi services is no longer a challenge. Furthermore, as Infortar has become a publicly listed company, we are focused on driving growth by developing profitable businesses within our main business areas,” said Talgre.
In 2023, AS Tallink Takso reported a loss of €211 thousand (compared to a €283 thousand loss in 2022). For Aktsiaselts Infortar, this transaction represents an exit from the taxi operations sector.
The transaction is not treated as a transaction beyond everyday economic activities or a transaction of a significant importance, nor as a transaction with related persons, within the meaning of the "Requirements for Issuers" part of the NASDAQ Tallinn Stock Exchange rules. The transaction does not have a significant impact on Aktsiaselts Infortar activities. The members of the Supervisory Board and the Management Board of Aktsiaselts Infortar are not personally interested in the transaction in any other way.

Infortar operates in seven countries, the company's main fields of activity are maritime transport, energy and real estate. Infortar owns a 68.47% stake in Tallink Grupp, a 100% stake in Elenger Grupp and a versatile and modern real estate portfolio of approx. 116,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, and other areas. A total of 105 companies belong to the Infortar group: 96 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 6,108 people.

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