Rail News

Škoda Transportation Sold to Czech Investor PPF Group

An agreement for the transfer of 100% of Škoda Transportation shares has been concluded between CEIL (sole shareholder of the Škoda Transportation Group) and PPF Group (a privately held international financial and investment group).

The entry of a strong financial partner in the form of PPF Group into Škoda Transportation will contribute to its further development. The effectiveness of the signed contract is still subject to the necessary approval by the Office for the Protection of Competition.

Škoda Transportation
Škoda 15T ForCity tram in Prague © Honza Groh (Jagro) – Own work, CC BY-SA 3.0

About PPF Group

PPF Group invests in numerous segments, from the banking sector and financial services including telecommunications, biotechnology, the insurance industry and real estate, to agriculture. PPF is active in Europe, Russia, Asia and North America. The Group owns assets worth almost €35 billion (as of June 30, 2017).

Related Post:  Anti-Graffiti Film: A New Layer of Defence from Vandalism

In 2016, companies with capital participation of PPF Group paid income tax in the amount of 2.2 billion crowns in the Czech Republic. According to the latest ranking by the Ministry of Finance, this would rank them among the five largest payers of income tax in the Czech Republic. Furthermore, they paid almost 1.7 billion crowns in social security and health insurance for their employees; this means that in 2016, companies with capital participation in PPF paid a total of 3.9 billion crowns to the state.

On June 30, 2017, PPF Group employed 155 thousand people across the world. The companies in the Czech Republic registered 8.8 thousand employees. From these, the Czech companies that significantly participate in the development of the Group’s foreign investments (Home Credit International a.s., SOTIO a.s., PPF a.s.) employed more than 1,350 mostly highly qualified workers last year.

Related Post:  Škoda Push-Pull Trainset for Deutsche Bahn Receives TSI Certification

Original article © Škoda Transportation.

FOR ALL THE LATEST INFORMATION, NEWS, IMAGES, VIDEOS AND ARTICLES ON ALL ASPECTS OF ROLLING STOCK, PLEASE CLICK HERE

News categories

12 Nov 2018
Anti-Graffiti Film: A New Layer of Defence from Vandalism
09 Nov 2018
Railway-News Industry Insider: 10 Must-Read Rail Stories for Week 45
05 Nov 2018
Škoda Push-Pull Trainset for Deutsche Bahn Receives TSI Certification
02 Nov 2018
Railway-News Industry Insider: 11 Must-Read Rail Stories for Week 44
29 Oct 2018
Berlin Tram Company Receives Two Skoda Transtech Artic Pre-Series Vehicles
16 Oct 2018
£1.3bn of Private Investment in UK Rail Industry During 2017-18
03 Aug 2018
UK: Angel Trains Appoints David Jordan as Chief Operating Officer
04 Jul 2018
UK: CAF Invited to Participate in Procurement Programme for HS2 Trains
Subscribe to Railway-News
Get the latest contract alerts and Railway News emailed directly to your inbox.

We respect your privacy and take protecting it seriously.

Please tick to confirm you would like to receive emails we think may be of interest to you. We sometimes tailor the content you see to what we think you'll find interesting, and so monitor your interaction with our website and email content (find out more).