Eltel sells its business operations in Latvia
Press release on 19 July 2017 at 10.30 CET Today, Eltel has sold its business operations in Latvia in a management buy-out whereby Jurijs Kokorevics (District Manager at Eltel) acquires 100 percent of the shares in SIA Eltel Networks. Eltel’s Latvian business operations comprise design, construction and maintenance works for the power distribution and power transmission networks in Latvia.In 2016, these operations generated net sales of EUR 4.7 million, were marginally loss-making and currently employ 91 people. The transaction, which is signed and closed today, is estimated to have a