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Romanian CFR Marfa To Be Privatized In 2009 – Transp Min

Romanian Transports Minister Ludovic Orban said Tuesday that he plans to sell next year the state-owned rail freight company CFR Marfa and the ministry is waiting a confirmation of the privatization strategy from the European Commission, or CE, for more than three months.
Romanian CFR Marfa To Be Privatized In 2009 - Transp Min
07 oct. 2008, 13:20, English

“The sale of CFR Marfa might be the top privatization in 2009. We are facing a delay since we are waiting for more than three months an answer from CE", Orban said.

In its mandate, the ministry have chosen the consultants who elaborated the privatization strategy and sent it to the Commission three and a half months ago, Orban added.

In March, Orban said he intends to organize an open auction for the sale of CFR Marfa’s 100% stake, for a price higher than EUR1 billion.

At that time he showed that audit and consulting company Deloitte, together with law firm Bostina si Asociatii, elaborated the privatization strategy.

The privatization process might be stopped if the bidders offer a lower price than expected, according to the sale strategy.

CFR Marfa is a railway transport company, both in domestic and international traffic.