PPF group is buying ŠKODA TRANSPORTATION

Published: 29.11.2017 Related countries:  Israel Israel

Important Czech producer of locomotives, street cars and railway units will change the ownership.

PPF  group has signed an agreement on the acquisition of 100% stake in ŠKODA TRANSPORTATION, incl. other assets related to ŠKODA TRANSPORTATION’s operation, primarily Škoda trademarks and properties used for the firm’s operation. The transaction includes PPF’s commitment to provide an operating loan to the company for the financing of daily operations and essential requirements. The transaction’s value has not been disclosed but according to Hospodářské noviny, citing two unnamed sources, PPF will pay more than CZK 10bn (cca USD 545 mil). The transaction’s settlement is subject to approval by relevant antimonopoly bodies.