Vizii Urban becomes majority shareholder in Tranzīts L
The Competition Council has authorized urban environment maintenance company Vizii Urban, part of CleanR Grupa, to acquire an additional 2% of Tranzīts L shares, becoming the majority shareholder in Tranzīts L, informed Vizii Urban Chairman of the Board Valdis Purvinskis.
Last December, Vizii Urban announced acquisition of 49% of shares in SIA Tranzīts L and said that, in accordance with the requirements of the Competition Law, it had applied to the Competition Council for permission to acquire another 2% of Tranzīts L shares.
The purpose of the investment is to facilitate Vizii Urban’s growth in Latvia’s regions and to ensure transfer of the urban environment maintenance company’s competences, thereby improving quality of the company’s services.
“The acquisition deal marks an important milestone in our development – by becoming the majority shareholder in Tranzīts L, we are taking a major step towards a unified, quality approach to urban environment maintenance, as well as expanding and improving our range of services in the regions of Latvia,” emphasized Valdis Purvinskis.
SIA Tranzīts L provides a wide range of services, including cleaning and maintenance of areas and environmental improvement services, and the acquisition of the company will help Vizii Urban strengthen its competitiveness in the regions. The amount of the deal is undisclosed.
The transaction is expected to not only strengthen the quality of Transit L’s current services, but also enable introduction of new technological solutions in the company’s day-to-day operations. It will also include investments in regional infrastructure, contributing to a greener and more efficient management of resources.
About SIA Vizii Urban
Vizii Urban is an urban environment maintenance firm with over 20 years of experience and wide geographic presence in Latvia, providing its services in the cities of Riga, Jūrmala, Liepāja, Rēzekne, Cēsis and elsewhere. Vizii Urban provides full cycle of urban environment services: cleaning and maintenance of public spaces, streets, sidewalks both in summer and winter, as well as planting of greenery and maintaining beaches. Vizii Urban is part of AS CleanR Grupa, whose companies provide municipal and industrial waste management services, sorting and recycling services, commercial properties cleaning, and others. AS CleanR Grupa is a 100% Latvian capital company. Guntars Kokorevičs is the founder and Chairman of the Supervisory Board of the Group.
