CFR Marfa privatization to start from EUR 181 mln
Romania will tender a 51 percent in railway freight operator CFR Marfa from a starting price of RON 797 million (EUR 181 million) in an offer that runs for three months with an extension option, according to the Ministry of Transport.
Potential bidders need to have experience in the freight transport business and an annual turnover of at least EUR 100 million in the last three fiscal years. The interested companies also need to present a development strategy for CFR Marfa in the next five years, including investments and financing sources.
Bidders are required to provide a letter of comfort that covers the starting price of the tender and the planned investments.
The short-listed investors will be announced on April 23 and individual negotiations with the potential buyers will start on May 9. Potential investors can pay EUR 10,000 for a presentation document of CFR Marfa that is available starting Tuesday.
CFR Marfa, which is fully state-owned, has a share capital of RON 312 million (EUR 70.2 million). The privatization is part of a EUR 5 billion stand-by agreement with the IMF, European Commission and World Bank. (source: business-review.ro)