The European Commission has approved the takeover of Škoda Transportation and its subsidiaries, including VUKV and Bammer Trade, by Amsterdam-based investment firm PPF Group.
The proposal to acquire 100 per cent of sole shareholder CEIL’s stake was first announced in November, 2017.
In a statement, the European Commission concluded that the proposed transaction “would raise no competition concerns given the negligible overlaps between the companies’ activities in the European Economic Area.”
VUKU develops, researches and tests rail vehicles and their parts while Bammer Trade repairs public transportation vehicles.
Petr Kellner – believed to be the richest person in the Czech Republic – is PPF Group’s co-founder and majority shareholder.
No purchase price was announced by PPF at the time of the initial announcement.