The European Commission has approved the acquisition of Škoda Transportation by PPF Group, concluding that “the proposed transaction would raise no competition concerns given the negligible overlaps between the companies’ activities in the European Economic Area.”
Under the acquisition process, PPF Group will also purchase Škoda Transportation and five subsidiaries: VUKV, Skoda Investment, Bammer Trade (all from the Czech Republic), Jokiaura Kakkonen (Finland) and Satacoto Ltd. of Cyprus.
VUKV is active in the development, research and testing of rail vehicles and their parts, and related services. Skoda Investment is involved in the renting of property and the granting of licences for the “Skoda” trademark and is also active, via its subsidiaries, in photovoltaic power generation, IT and telecommunications technology. Bammer Trade is involved in the repair of public transportation vehicles. JK is engaged in the renting of production facilities. Satacoto is a holding company which is active, via its subsidiary, in the production of electric motors and generators, and the renting of real estate. PPF is a multinational finance and investment group focusing on financial services, consumer finance, telecommunications, biotechnologies, retail services, real estate and agriculture.
In November 2017, PPF Group signed an agreement to purchase 100% of the shares of Škoda Transportation, including other assets related to Škoda Transportation’s business.
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