CAF Group to acquire EuroMaint from Orlando Management for €80m.

CAF Group agreed to acquire EuroMaint Group, the Swedish rolling stock maintenance company, from Orlando Management for €80m ($89m), with a final price that will be specified, after the proper adjustments. With the incorporation of this new company, CAF reinforces its growing activity in the rail services area and also strengthens its presence in the Nordic markets, where the company has developed a significant number of projects. The transaction is expected to close by July 19. "This transaction will strengthen CAF Group's positioning at a European level in the maintenance and supply of components, which is an activity with longer average execution times that provides greater sales stability in the medium and long term. Likewise, EuroMaint's strong client portfolio will contribute to generate new opportunities for the development of other types of projects in the Nordic region," said CAF Group in a statement.