Month: December 2024

Eco Baltia intends to acquire up to 100%of JSC DAUGAVPILS SPECIALIZĒTAIS AUTOTRANSPORTA UZŅĒMUMS

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Eco Baltia, the largest environmental resource management and recycling group in the Baltics, has submitted a merger notification to the Competition Council of the Republic of Latvia (the “CC”) in order to obtain permission to acquire 56,2% of the shares of the Latvian road maintenance company JSC (AS) DAUGAVPILS SPECIALIZĒTAIS AUTOTRANSPORTA UZŅĒMUMS (“Daugavpils Spec. ATU”).   After the completion of the transaction, which is planned to be executed through Eco Baltia’s subsidiary, Eco Baltia vide, the group will hold 96.6% of the shares. However, group is interested to increase this stake up to 100%.

In Aprils of this year, Eco Baltia vide acquired 40.40% of the shares in Daugavpils Spec. ATU from the Daugavpils City Council and the Latvian State. The remaining shares are owned by private individuals.

Jānis Aizbalts, Chairman of the Management Board of Eco Baltia vide, commented:

“Considering our experience in road management gained over many years, we have experienced a breakthrough over last year and this year. Last year, we expanded Eco Baltia’s portfolio with the acquisition of Pilsētas Eko Serviss, a local road maintenance company in Riga which was added to Eco Baltia vide. This year we are further strengthening our presence in Daugavpils, Latvia’s second largest city. Our experience has resulted in an efficient and financially attractive assortment of services provided by the private sector.  It promotes healthy competition in the sector, improving service quality and introducing sustainable technological solutions.”

The same way as after the acquisition of the shares owned by the state and the local government, Daugavpils Spec. ATU will continue to provide its daily services as usual. No changes are planned to the existing cooperation agreements and arrangements for the customers, partners and employees of the parties involved in the transaction.

About JSC (AS) DAUGAVPILS SPECIALIZĒTAIS AUTOTRANANSPORTA UZŅĒMUMS

DAUGAVPILS SPECIALIZĒTAIS AUTOTRANANSPORTA UZŅĒMUMS was founded in January 1973. The company manages waste in municipalities in the Latgale region, provides street cleaning and maintenance services in Daugavpils and provides transport services. In 2023 “Daugavpils Spec. ATU” had an audited turnover of EUR 5,5 million. The company had 98 employees.

About LTD (SIA) Eco Baltia vide:

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 an unaudited turnover of almost EUR 54 million.