April 04, 2018

European Commission approves Škoda Transportation sale

Written by  Quintus Vosman
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European Commission approves Škoda Transportation sale Quintus Vosman

THE European Commission (EC) has approved the takeover of Škoda Transportation by investment company PPF Group, officially based in the Netherlands but owned by Czech entrepreneur Mr Petr Kellner, one of the richest persons in the Czech Republic.

The EC has concluded that the sale will not have any adverse impact on competition in the European market.

The approval covers Škoda Transportation and the following subsidiaries:
• VUKV - research, development and vehicle testing
• Škoda Investments - active in real estate, telecoms, IT and photovoltaic energy sectors. Also grants licenses for the Škoda brand
• Bammer Trade - repair of public transport vehicles
• Jokiaura Kakkonen - owner of production premises in Finland, and
• Satacoto - holding comany with subsidiaries for manufacturing electric motors and generators.

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