Estonia, Investments, Latvia, Legislation, Markets and Companies

The controlling interest of LETA or 99.66% of the company's shares are now owned by the company Newsworks – a Latvian subsidiary of the Estonia-based corporate group UP Invest.

Una Klapkalne will continue serving on LETA's board, while Newsworks CEO Sven Nuutmann and BNS Group OU Director Anvar Samost have been appointed the company's new board members.

As reported, the corporate group UP Invest OU also owns the news agency group Baltic News Service (BNS); however, since the beginning of September, UP Invest OU no longer controls BNS companies in Latvia – BNS Latvija and Mediju Monitorings. According to Firmas.lv data, the Estonia-based AMP Investeeringud is now the owner of BNS Group.

UP Invest currently runs a number of companies in Estonia, Latvia, and Lithuania. In Latvia, UP Invest also controls the news portals Tvnet and Apollo.

The information agency LETA provides news and business information solutions for organizations and companies. Among the agency's clients are the largest enterprises, media and state institutions and organizations, embassies, and international companies.

In 2014, LETA had 158 employees. The company's turnover reached EUR 3,087,968, and profit – EUR 9,714.

UP Invest is an investment company that has established several holding companies in media, retail, IT, and technology industries. The company's sole owner is Margus Linnamae.

Up until now, the controlling interest of LETA belonged to Baltijas Informacijas Grupa, whose shares are owned equally by Agris Strautnieks, Martins Barkans, and Dyaltos Capital that is headed by Alvis Krasovskis.