The Latvian Competition Council has granted permission to Latraps agricultural co-operative to gain a controlling interest in Latvijas Piens dairy company, LETA was told at the council.
Upon assessing the takeover deal, the Competition Council concluded that it will not cripple competition in the market.
In March, Latraps increased its stake in Latvijas Piens to 73.286 per cent, gaining a controlling interest in the dairy company as a result, which it was obliged to report to the competition watchdog.
To further increase its stake in Latvijas Piens to 79.72 per cent, Latraps plans to also increase the equity of Latvijas Piens.
Latraps is primarily involved in grain wholesale, while Latvijas Piens makes dairy products, inc…
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