VR-Yhtymä Oyj and Suomen Ostoliikennekalusto Oy signed an agreement on 11 February 2026 to transfer rolling stock used in state-subsidised passenger services to the state-owned rolling stock company.
In the first phase, scheduled for 2 March 2026, Suomen Ostoliikennekalusto will acquire commuter multiple units used in services ordered by the Ministry of Transport and Communications, including the forthcoming Sm7 EMUs, as well as diesel railbuses and night train coaches. In the second phase, to be completed later in 2026, additional night train and car-carrier coaches currently on order will transfer to the company.
The total purchase price for both phases amounts to about EUR 250m. VR will repay an equivalent amount to the Finnish state as a return of capital during 2026, making the arrangement financially neutral for the company. VR stated that the transaction has no material impact on its debt servicing capacity or operating profit.
The transfer follows a decision by VR’s extraordinary general meeting on 9 October 2025 to distribute the entire share capital of Suomen Ostoliikennekalusto Oy, with a balance sheet value of EUR 15.1m, to the Finnish state as a return of capital. Ownership of the shares was transferred on 1 November 2025.
The establishment of a state-owned rolling stock company is included in the Finnish government programme as a measure to open the passenger rail market to competition. The company is intended to provide rolling stock for competitively tendered public service contracts. The current public service agreement between the Ministry of Transport and Communications and VR runs until the end of 2030.
