Estonia: Margus Linnamäe buys out business partner in MM Group

One of Estonia’s wealthiest businessmen, Margus Linnamäe, will buy out his business partner, Ivar Vendelin, in the Apollo and MM Group investment companies, ERR reports. Vendelin will focus on real estate investments instead. Following the transaction, Apollo will be fully owned by MM Group. Linnamäe will own 98% and lawyer Aare Kurist the remaining 2% of MM Group. Apollo runs cinemas, bookstores, restaurants, and other retail outlets, while MM Group owns many major media brands across the Baltic States, Estonia’s largest pharmaceutical wholesaler, and other businesses.