European Commission to give response on privatization of CFR Marfa until years end

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The European (EC) will give a response on the privatization method of CFR Marfa (Freight) chosen by the Romanian state by the end of the year, officials in the Transport Minister told on September 25 on the occasion of InnoTrans 2008 fair in Berlin.
The Romanian state has proposed the sale of the entire stake of CFR Marfa through auction with pre-qualification, in the wake of a study conducted by the consultancy company Deloitte.
 
“There are two variants: either privatization through direct negotiation or international auction with pre-qualification, with the European Commission to give its verdict”, said Liviu Bobar, the manager of CFR Marfa.
“Practically, we requested clarifications from the Council of Competition, which addressed to the European Commission on this matter, and the European authorities will send us a response”, said Claudiu Dumitrescu, director of Rail Infrastructure Department of the Ministry of Transport.
 
The Romanian state hopes to obtain at least 1bn euro from the privatization of CFR Marfa, and the consultant of Deloitte has proposed as privatization method the open auction with  requalification in order to draw a strategic investor.
In 2007, CFR Marfa recorded annual revenues of 530 million euro and a profit of 12 million euro.
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