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Vaivars sells 40.3% stake in ''DK Daugava'' to Russian milk processing company

 RIGA, April 12 - The owner of well-known Latvian milk and bread producer ''DK Daugava'' (''Daugava'') Aigars Vaivars has sold a 40.3 percent share in the company to Russian milk processing company ''Gogol-Mogol''.

Vaivars retains 59.69 percent of the company's shares.

As Vaivars himself told the business information portal ''Nozare.lv'', he sold the shares in the company for EUR 1.8 million, which has allowed him to pay back his loan in full to ''Swedbank''.

At the same time, Vaivars points out that the new co-owner of ''Daugava'' will distribute the company's products in Russia.

''Our new cooperation partners owns a milk processing plant in Kaliningrad. Seeing that they have excellent contacts in the Russian market, we will have an excellent opportunity to sell and distribute our products on the Russian market,'' Vaivars said.

''DK Daugava'' operates a chain of popular stores throughout Latvia, which sells various high-quality dairy and bread products produced by the company itself.

The company currently operated 39 shops throughout Latvia and produced 70 natural milk products and 90 bread products.
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