Romania sells rail freight company for more than 200M euro

Grup Feroviar Roman SA (GFR), a private railway operator, won the bidding for CFR Marfa, Romania’s state owned rail freight company, for about 202 million euro and guarantees it will invest a further 900 million lei (about 204 million euro), the Romanian minister of transport, Relu Fenechiu, announced late on June 20 as the final negotiations trailed.

Initially, Fenechiu announced Grup Feroviar Roman submitted more than 180 million euro, the money the state asked for, for the 51 per cent stakes in CFR Marfa, but the bidding company had some extra conditions which were in fact the subject of negotiations.

“After seven hours of negotiations I can inform you there’s white smoke coming out” Fenechiu joked. “Today, we can declare the winner in the competition to privatise CFR Marfa” he said.

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