Škoda Group acquires 36% stake in Latvia's L-Ekspresis

Czech public transport manufacturer Škoda Group has acquired a 36% stake in the Latvian company L-Ekspresis, which specializes in the technical maintenance, repair, and modernization of railway rolling stock. The transaction amount has not been disclosed.

Under the terms of the agreement, Škoda Group maintains the option to purchase the remaining 64% of L-Ekspresis by the end of 2028. This investment is part of Škoda Group’s strategy to expand its service offerings in the Baltic region, with the long-term goal of establishing a regional railway maintenance and service center in Riga.

Škoda Group CEO Petr Novotný stated that the move aims to make the company a long-term partner for clients throughout the entire equipment lifecycle. L-Ekspresis Chairman Rolands Gorodeckis noted that the partnership provides a foundation for future growth and increased value for customers.