about us | newsletter | contact | archive | members area
Michele Famis, French Ambassador to Romania
Romanian authorities have declared their intention to improve the absorption of EU funds»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Privatization of CFR Marfa to be completed in 2016

The privatization of state-owned CFR Marfa will be completed in 2016, following the agreement signed with the International Monetary Fund, according to a statement uttered by Ioan Rus, the Minister of Transportation in Romania.

2015-03-11 11:58:34

The term has been delayed from year to year and , on February 9, the Ministry of Transportation in Romania had planned to launch the selection procedure for the consultant in charge with resuming the privatization.

In October 2013, the sale of 51 percent of CFR Marfa to Grup Feroviar Roman (GFR), a company controlled by Romanian businessman Gruia Stoica, failed to be completed by the agreed deadline because some financing banks of CFR Marfa did not agree with the change in the stakeholder structure. Another problem was that the Competition Council did not take a position on the transaction.

In May last year, the Ministry of Transportation resumed the privatization process of CFR Marfa and changed some conditions imposed on the auction participants. One of the main changes was to decrease the required turnover level of the offering companies, from EUR 100 million to EUR 20 million. Still, the initial offering price remained unchanged, starting at EUR 180 million, while the participation warranty was set at EUR 10 million.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  3382 Views
Daily Info
Porsche Engineering Romania relocates its headquarters in Cluj-Napoca

Two years after its official opening event, Porsche Engineering Romania inaugurated its new headquarters in Vivido Business Center in Cluj.

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sales r...

Industry 4.0: EIB supports construction of new Arctic factory in Romania

The European Investment Bank (EIB) is lending 68 million Euro to white goods producer Arctic to finance the construction of a large-scale washing machine production plant feat...

CTP invests in the facilities and infrastructure from CTPark Bucharest West

CTP continues to strengthen its position on the domestic market through a series of major investments in the development of CTPark Bucharest West. Currently, the property's bu...

Renault becomes the official automobile partner of Paris Saint-Germain

Paris Saint-Germain and Renault have signed an official partnership, linking the two organisations for the next three seasons.

 
 
   
advertising

advertising

advertising

advertising

More on News
Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

2 Comments

Engie acquires Romanian IoT company Flashnet, specialized in Smart Public Lighting

ENGIE announces the acquisition of 60 per cent of Flashnet, a Romanian Internet of Things (IoT) company.

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sale...

Romanian M&A market speeds up in Q2, says Deloitte

The M&A market in Romania marked a significant recovery in the second quarter of this year, reaching 391 million Euro, compared with 258 million Euro in the first three mon...

1 Comment

Healthy Central European private equity activity levels set to continue, says Deloitte

The strong momentum underway in Central Europe's private equity markets should continue, according to the latest Deloitte Central Europe Private Equity Confidence Survey.

1 Comment

CEZ Group in Romania ended 2017 at a net profit level

CEZ Group in Romania ended 2017 with better results than in 2016 at a net profit level. Last year brought for CEZ Group in Romania a profit before interests, taxes, depreci...

2 Comments

Enel reaches one million residential customers on Romania free electricity market

Enel Energie and Enel Energie Muntenia announced reaching the mark of one million household customers on the free electricity market in Romania.

2 Comments