Romania to start privatisation of cargo railway company on April 6-8.

By bne IntelliNews March 22, 2013
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport minister Relu Fenechiu was quoted as saying by Agerpres. Under the stand-by arrangement with the IMF, Romania is supposed to start the privatisation procedures in March, sign the privatisation contract by mid-May and complete the privatisation process when the buyers meet the requirements. The government endorsed the privatisation strategy on February 13. Under the strategy, the state wants to sell 51% in CFR Marfa to a strategic investor, or to a consortium that includes a strategic investor. The government has already appointed a new management at CFR Marfa, as stipulated in the IMF deal.

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