CAF Group has acquired the 2.67% stake that Sodena, the public company of the Government of Navarre, held in Solaris Bus & Coach (Solaris), a company specialized in the development and manufacturing of sustainable buses. With this transaction, CAF now controls 100% of the share capital of the European leader in zero-emission urban mobility.
This divestment has allowed Sodena to recover its initial investment in the original Vectia project — whose activity was absorbed by Solaris — achieving an exit multiple of 1.3 for the public entity.
CAF operates a plant in Castejón, where it develops both its bus-related activities and its operations in the railway sector. Additionally, as part of its presence in the aerospace industry, CAF also has a footprint in Navarre through its group company Orbital Critical Systems. All these activities demand a high level of industrial innovation capability and highly qualified professional profiles.
This all reinforces CAF Group’s ongoing commitment to Navarre, where it employs nearly 200 people, and its strong focus on sustainable mobility, fully aligned with its strategy of technological diversification and the integration of cutting-edge transport solutions.
CAF thanks Sodena for its trust and collaboration throughout this time and reiterates its future commitment to the continuity of the project and its support for technological development in the region of Navarre.
About CAF
CAF Group is one of the leading players in the international market as a provider of comprehensive transport systems, both in the railway sector (metro, trams, high-speed trains, suburban and commuter trains, LRVs, locomotives, civil works, electrification) and in the non-rail sector (sustainable urban buses). With revenues exceeding €4 billion, CAF has delivered major international projects in numerous countries across five continents. CAF Group currently employs over 16,000 people and operates manufacturing plants in Spain, France, the United States, Brazil, Mexico, Poland, and the United Kingdom, along with a large number of subsidiaries worldwide.
About Sodena
Sodena, Sociedad de Desarrollo de Navarra, S.L., is the financial instrument of the Government of Navarre for attracting and developing high-value business projects for the region. It supports them financially, accompanies them throughout their development, facilitates their establishment, and provides access to its network of contacts, while also coordinating the design and implementation of the region’s Smart Specialisation Strategy for Sustainability. All of this aims to contribute to regional development and the creation of quality employment.
Its portfolio comprises around one hundred companies that provide employment for over 5,500 people in Navarre. Sodena provides financial support amounting to €183 million, backing the growth, consolidation, and entrepreneurial plans of these companies in Navarre. Sodena has implemented a sustainability and responsible investment policy in its daily operations and is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and a member of the UN Global Compact.
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