VR sells road freight business to focus on rail

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FINLAND: VR has agreed to sell its road logistics business to Munchen-based private equity company Mutares as part of the national train operator's strategy to focus on its core business of passenger and freight transport by rail. Completion of the deal announced on November 15 is expected by the end of the year, subject to regulatory approval.

The purchase price is not being disclosed, and VR said there would be no impact on its rail logistics business.

VR also confirmed that it plans to divest its stations and depots so that they can be run on an operator-neutral basis as the Finnish rail market is opened to competition.

'The focus on our core business operations continues and the sale of road logistics is a natural next step in implementing our strategy', said VR CEO Elisa Markula. 'I am satisfied with the development of road logistics in recent years and would like to thank the personnel for their excellent work in a difficult market situation.'