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Sõõrumaa becomes sole shareholder of USS Security

Mark Luts (left) and Urmas Sõõrumaa (right).
Mark Luts (left) and Urmas Sõõrumaa (right). Source: (Postimees/Scanpix)

USS Security minority shareholder Mark Luts sold his 40-percent stake in the company to Urmas Sõõrumaa, who is now the sole shareholder in the security services company he himself founded.

While Luts will stay on at the company as a member of its supervisory board, supporting the company's corporate division, he admitted that his views on the company's development differed from those of Sõõrumaa, reported daily Postimees.

According to the paper's info, competing security services company G4S believes that Sõõrumaa is preparing to sell off his company altogether.

Luts, who has previously worked together with Sõõrumaa in Russia's security industry and for example won the security services tender for the 2014 Winter Olympics in Sochi with his business AN-Security, explained that he is seeking new opportunities in the catering business in Russia and Asia.

Luts had purchased his shares in USS Security from Sõõrumaa's then-partner Indrek Sepp in November 2015. Sõõrumaa has confirmed that the only thing to change in his relationship with Luts will be the matter of ownership, as the two men have more joint business ideas for the future.

Editor: Aili Vahtla

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