Eco Baltia acquires 40.4 % stake in road maintenance company in Latvian city Daugavpils
Eco Baltia AS (JSC), the largest group of environmental resource management and recycling companies in the Baltics, has acquired a 40.4% stake in the Latvian road maintenance company (JSC) Daugavpils specializētais autotransporta uzņēmums (Daugavpils Spec. ATU).
The shares owned by Daugavpils City Council and the Latvian state were acquired by Eco Baltia vide, a wholly owned subsidiary of Eco Baltia group, as part of the privatisation. The remaining 59.6% of the shares are held by private individuals.
Jānis Aizbalts, Chairman of the Board, Eco Baltia vide: " Following the acquisition of a minority stake, we will apply for permission to acquire up to 100 per cent of Daugavpils Spec. ATU shares. This is an important step to expand Eco Baltia vide's services regionally, as Daugavpils is the second largest city in Latvia. This is the second acquisition of Eco Baltia vide in the street and road maintenance business - in 2023 it acquired Pilsētas Eko Serviss, which provides urban environment management in the Latvian capital Riga.”
In 2023, Daugavpils Spec. ATU had an unaudited turnover of EUR 5.5 million and employed 110 people.
After the transaction, Daugavpils Spec. ATU will continue to provide its daily services as usual. No changes are planned in the existing cooperation agreements and arrangements for customers, partners and employees of the parties involved in the transaction.
About JSC Daugavpils specializētais autotransporta uzņēmums:
Daugavpils specializētais autotransporta uzņēmums was founded in January 1973. The company provides waste management in Daugavpils, cleaning and maintenance of city streets, as well as transportation services.
About Eco Baltia vide Ltd:
Eco Baltia vide is an environmental management company providing a wide range of environmental management services - municipal and sorted waste collection, packaging waste management, construction and bulky waste management, area cleaning and road management, as well as various seasonal services. In 2023, Eco Baltia vide closed the year with a unaudited turnover of almost EUR 54 million.
Additional information:
Alise Zvaigzne
Eco Baltia vide
Public Relations Project Manager
Phone +371 28780467
alise.zvaigzne@ecobaltiavide.lv
www.ecobaltiavide.lv
www.ecobaltia.lv
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