PPF Group to acquire Škoda Transportation
PPF Group announces the signing of an agreement to purchase 100% of the shares of Škoda Transportation, including other assets related to Škoda Transportation’s business such as the “Škoda” trademarks and the real estate used by the firm. PPF Group will also commit itself to provide an operating loan to finance Škoda Transportation’s essential needs as part of the deal. The completion of the transaction is subject to approval by the relevant antitrust authorities.
Škoda Transportation is a leading European manufacturer of vehicles for urban and railway transport, with a tradition of manufacturing that spans over 150 years. Škoda is currently Central and Eastern Europe’s leading manufacturer of rail vehicles. Its core activities include the manufacturing of trams, suburban electric trains, locomotives, metro trains, trolleybuses and electric buses, for customers both in the Czech Republic and abroad.
Škoda Transportation currently employs over 5,000 workers in Šumperk and Pilsen. In addition to the parent company Škoda Transportation, it has a number of subsidiaries and joint ventures operating in countries such as Germany, Finland, the US, Russia and Hungary which run their own individual projects. Škoda Transportation also pursues its own R&D programme.