CFR Marfa privatization to start all over again, most likely this Tuesday

The privatization process of rail freight company CFR Marfa will start all over again, most likely tomorrow, sources from the Ministry of Transports told on Monday.

At this point, representatives of GFR and of the Ministry of Transport are working out the agreement to end the privatization agreement signed on September 2.

Businessman Gruia Stoica, owner of GFR, winner of the bid for the privatization of CFR Marfa, met today (on Monday – Editor’s note) with representatives of the Transport Ministry’s Privatization Commission, but the talks failed because the parties did not come to terms.

Minister of Transport Ramona Manescu said on Friday that the deal for the privatization of CFR Marfa will fail if Gruia Stoica does not pay by Monday, October, 14 2013, the difference of 170 million euros for the acquisition of the railway company.

On the other hand, Grampet Group, the company owned by businessman Gruia Stoica, cautioned on Sunday, in a separate press release, that the privatization deal will be aborted for the seller’s fault, ‘because the Commission responsible for the privatization of the National Rail Freight Company is hiding behind the opinion to be released by the Competition Council, because it has actually not fulfilled its obligations.’

At the same time, the company requested the declassification of the contract for CFR Marfa’s privatization, mentioning that GFR has never requested an extension of the payment deadline.

In turn, president of the Competition Council Bogdan Chiritoiu explained recently  that the institution has warned the Government as early as this summer, when it endorsed the draft Government Resolution on the privatization of CFR Marfa, that the text of the normative act can cause confusion about the payment deadline.

‘Not even now is the notification filed by GFR complete, and our terms are running from the moment we receive the full documentation,’ Chiritoiu said on October 10.

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