GFR in advanced talks with some of world’s top 5 banks for financing of CFR Marfa acquisition

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Grampet Group – GFR, winner of the bid for the sale of rail freight company CFR Marfa, is in advanced talks with some of the world’s top 5 international financial institutions for financing of this deal, the group said in a release.

Representatives of Grup Feroviar Roman (GFR) deny information according to which the company or its major shareholder, Gruia Stoica, are facing financial difficulties.

„We hereby state that: i) We have no creditworthiness issues whatsoever, but quite the contrary, we are in advanced talks with some of the world’s top 5 international financial institutions for raising financing for CFR Marfa ii) We have duly paid all taxes and fees to the state budget, and there is no restriction imposed on GFR-Grampet accounts iii) There is no criminal investigation underway against GFR main shareholder Gruia Stoica iv) All business developed by GFR-Grampet over 13 years of continuous and solid growth was performed in full transparency and in accordance with the laws of the country, and over 90% of our contracts unfold with private operators and not with the Romanian state,” the release adds.

Company officials remind that had there been any issues or risks, the competent institutions would have been notified of them and the company would not have been allowed to reach this stage of the privatization process. The release also shows that GFR is the target of a coordinated attack from economic and media interest groups aimed at derailing the privatization of CFR Marfa.

On 20 June, Group Feroviar Roman (GFR), owned by businessman Gruia Stoica, was declared winner of the competition for the privatisation of Romania’s national freight rail carrier CFR Marfa. GFR offered a price of 202 million euros, with the amount paid in full. GFR also pledged to invest some rd. 203 million euros (900 million lei) in CFR Marfa

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