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Kokorevics told the Nozare.lv business portal that his company Vides investicijas had bought Veolia vides serviss shares from the two previous company's shareholders. Now Vides investicijas holds a 90% stake in the company, writes LETA.

Vides investicijas used its own funds and funding from Nordea bank to pay for the shares.

"I am truly pleased that we have successfully concluded talks with the two previous Veolia vides serviss owners and bought 90 percent of shares in the company that has excellent prospects. Much work has been done since the arrival of Veolia Proprete so Veolia vides serviss could consolidate its positions on the Latvian waste management market, develop a new and ambitious team, build sound reputation with clients, competitors and cooperation partners. Today, I have bought a sound company that operates in accordance with international management principles - but not a market leader as yet. That means that many challenges await the company, and overcoming them will require hard work and considerable investment," stressed Kokorevics.

Kokorevics said that the company had good development prospects in the regions, in the segment of commercial clients, and in the development of new environmental management services.

The company will be open to further mergers and entry of new shareholders, at the same time, Kokorevics will strive to ensure that Veolia vides serviss develops into a strong company with Latvia-based capital.

Veolia vides serviss was established in 1995 as Nelsens, taking the present name in 2009. In 2008, the company's controlling interest was bought by the French Veolia Environment.

At the moment, Veolia vides serviss employs 150 people, providing waste collection and environmental management services in Riga, Riga Region, Jurmala, Balvi.

In December 2011, Veolia Environment announced that it was planning to sell its shares in companies in various regions of the world in order to improve the corporation's financial positions and reduce credit liabilities.