Finland Rail: VR-Group Share Transfer & Competition in 2025-2030

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Introduction

VR-Group Plc’s Extraordinary General Meeting on 9 October 2025 approved the transfer of its Suomen Ostoliikennekalusto Oy shares, valued at EUR 15.1 million, to the State of Finland, effective 1 November 2025. This decision is part of the Finnish Government’s plan to establish a rolling stock company and promote competition in the rail sector.

Share Transfer Approval

VR-Group Plc announced the approval of the transfer of its entire shareholding in Suomen Ostoliikennekalusto Oy to the State of Finland. The Extraordinary General Meeting took place on 9 October 2025. The shares, valued at EUR 15.1 million on VR’s balance sheet, will be transferred to the direct ownership of the Finnish Government, represented by the Prime Minister’s Office.

Government Strategy and Objectives

This move is a key step in the Finnish Government’s strategy to establish a rolling stock company. The goal is to ensure fair competition as the rail market opens further. The creation of the rolling stock company was included in the current Government Programme. It is identified as a key measure to promote competition in passenger rail transport. Part of the rolling stock currently owned by VR and used in tendered rail services commissioned by the State is expected to be transferred to Suomen Ostoliikennekalusto Oy early in 2026. The Government aims to ensure equal access to equipment for all operators bidding in future service tenders by transferring ownership of certain state-commissioned rolling stock from VR to the newly formed company.

Operational Framework

Suomen Ostoliikennekalusto Oy, also known as Finnish Public Transport Rolling Stock Ltd, will be directly owned by the State. It will be managed under the ownership steering of the Prime Minister’s Office. The company’s creation is designed to facilitate a transparent and efficient leasing structure for rolling stock used in public service obligation (PSO) rail operations.

Transition and Future Plans

The current tendered rail traffic agreement between the Ministry of Transport and Communications and VR-Group Plc will remain in effect until the end of 2030. After this agreement expires, services will be competitively tendered under the new framework. This transition represents a significant step toward a more open and competitive rail market in Finland. It aligns the country with broader European Union objectives on liberalising passenger rail services and improving access to state-supported transport infrastructure.