Romania’s government has published in the official journal the privatisation contract of cargo railway company CFR Marfa and the winning bidder – private company GFR, part of Grampet group, has two months to come up with the EUR 202mn promised for the 51% stake, Ziarul Financiar daily announced.
The government approved the privatisation contract on July 24. But PM Victor Ponta wanted to share the responsibility for the privatisation with President Traian Basescu, asking for the deal to be also endorsed by the country’s defence council [CSAT] – headed by Basescu.
Nonetheless, CSAT summoned last week and declined endorsing such privatisation deals, explaining that only the details relevant for the national security are considered when approving in broader terms the privatisation.
Romania’s antitrust body [Consiliul Concurentei] will decide within a month whether the endorsement for the takeover should be issued by the national or the European antitrust officials, the daily announced. A final decision on the takeover’s impact on competition will, however, be given within six months. By taking over CFR Marfa, private company GFR will accumulate a market share of over 70%.
Related Articles
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
EC clears €200mn capital increase at Romanian state-owned CEC Bank
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more
Austrian bank Addiko to enter Romanian market with consumer loans first
Addiko Bank, an Austrian financial institution specialising in the consumer and SME sector operating in Central and South-Eastern Europe (CSE), is preparing to launch operations in Romania with the ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
15 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago