Strategic Investment in TOKS: Israel’s “Egged Group” to Acquire 51% Stake in the Passenger Transport Company

Israel’s largest public transport operator, Egged Group, is acquiring a 51% stake in the long-distance bus company Tolimojo keleivinio transporto kompanija (TOKS). Upon completion of the transaction, the current owners — investment group Žabolis ir Partners and investor Nemunas Dagilis — will retain the remaining 49% of TOKS shares. The transaction is subject to approval by the Competition Council.

Egged states that this investment strengthens its position as one of the largest and most advanced public transport operators in Europe. The Israeli company also owns the Dutch public transport company EBS and the Polish operator Mobilis. Egged’s annual revenue from European operations currently amounts to 1.3 billion shekels (almost EUR 350 million).

“This investment in Lithuania reflects our strategy to build one of the most advanced and strongest public transport operators in Europe. This step further reinforces our position and demonstrates the group’s financial, managerial, and operational capabilities,” said Amir Levi, Chairman of the Board of Egged Group.

Gilad Riklin, CEO of Egged Group, adds that Lithuania and the Baltic states have become a natural direction for expansion due to modern infrastructure, a favorable regulatory environment, and a rapid transition to electric transport — an area where Egged aims to become a leading European player.

“I am proud of this transaction not only because of its importance to TOKS operations — I believe Egged’s decision represents a significant step for the entire region, demonstrating confidence in the prospects of Lithuania and the Baltic countries. With such an experienced and reliable partner, we will move forward far more confidently as we pursue our vision: to make TOKS the largest public transport operator in the Baltic region and continue expanding into the Nordic countries,” said TOKS CEO Valentinas Belousovas.

TOKS is currently actively expanding its operations in urban public transport services in Lithuania. The company recently acquired a 42,000-square-meter transport base in Vilnius, where the largest electric bus service and maintenance center in the region is being developed.

Managed by the Israeli infrastructure investment fund Keystone Infrastructure Investment Fund, Egged Group is the largest public transport company in Israel, operating 4,300 buses and transporting 320 million passengers annually. The group employs more than 11,000 people, with annual revenues reaching 5.6 billion shekels (nearly EUR 1.5 billion). Shares of Keystone Infrastructure Investment Fund, which controls Egged Group, are traded on the Tel Aviv Stock Exchange (TASE) under the ticker KSTN.

Foto: Alekso Jauniaus