Financial services provider Sollo, which operates under a license from the Bank of Lithuania as a payment institution, specializes in the collection of municipal and various other fees. As of February 6, 2025, the entire shareholding of the company was held by Maxima LT. The services offered by Sollo are accessible across 237 Maxima stores throughout Lithuania via integrated cash registers.
According to Giedrius Galdikas, head of the Communications and Corporate Relations Department at Maxima LT, the decision to sell Sollo is part of a strategic realignment aimed at allowing the parent company to concentrate its focus on its core business of retail trade. The transaction is scheduled to become effective on February 6, 2025. On this date, the payment processing for various services will continue to be managed through the stores owned by Sollo without interruption.
For context, Sollo reported revenues of 5 [amount missing] in 2025. The move signals a structural adjustment within the retail group. While the sale concludes the operational relationship regarding the payment institution, the integration of Sollo’s services within the maxima network remains functional through the established retail points.
The strategic shift allows the overall company to streamline its operational focus moving forward.
Topics: #maxima #company #sollo
