We advised Aktsiaselts Eesti Post on the separation of their fintech business

We assisted Eesti Post in separating their information business and smart invoicing solutions service and transferring the business units to their subsidiary Finbite OÜ.

Aktsiaselts Eesti Post, which operates under the Omniva brand, is a state-owned company that provides postal, parcel, digital and international transit services. In addition to the parent company, Aktsiaselts Eesti Post, the group also includes the subsidiaries Omniva OÜ as well as UAB Omniva LT in Lithuania and SIA Omniva in Latvia. From January 2021, fintech services are provided by Finbite OÜ, a subsidiary of Aktsiaselts Eesti Post.

The strategic objective of Eesti Post was to transfer the company’s information business (e-invoicing) to their subsidiary Finbite OÜ. The KPMG Law team assisted the client with the transfer of business to the newly established company and resolved practical legal issues related to the separation, including the lease of the business, the non-monetary contribution and the transfer of employees.