The Warsaw Voice » Business » News - September 6, 2018
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Spanish company takes over Polish bus maker
Spanish rolling stock manufacturer CAF finalized the transaction of taking over 100% shares in bus maker Solaris and signed a preliminary deal to sell a minority 35% stake to Poland's state development fund PFR, Solaris said in a statement sent to PAP.
"The transaction, under the agreement, will materialize within the next couple of weeks, after completing the required procedures concerning market regulations," Solaris said in the statement.
"Via participation in the transaction of a strong financial partner which PFR is, CAF maintains the Polish identity of Solaris and strengthens its position in the light of the company's ambitious growth plans."
Back in June, the Polish press reported that state development fund PFR had placed a PLN 0.9-1.0 billion preliminary bid for Solaris following its owners' decision to sell the company.
Solaris decided to sign a deal to bring in CAF as its investor at the beginning of July. The value of the transaction was not disclosed.