Romania Eyes At Least EUR1B For Freight Railway Co CFR Marfa

Romania’s Ministry of Transports wants to get at least EUR1 billion from the privatization of state-owned freight railway company CFR Marfa, and the sale strategy would be completed in three months, transports minister Ludovic Orban said Wednesday.

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The ministry selected the consortium formed by Deloitte Romania and law firm Bostina si Asociatii for consultancy services in the drafting of the sale strategy. The contract value is 190.000 (EUR1-RON3.5163), VAT not included.

"Our goal is to have a successful privatization, and a minimum price of EUR1 billion is a realistic goal," Orban told a news conference.

Authorities also plan to list CFR Marfa on the Bucharest Stock Exchange. The date of the listing will be set by a consultant in two or three months.

The company has a share capital of RON205.16 million, all in state hands.

Orban said the passenger railway company CFR Calatori would be split into several companies, based on types of rides, namely international, long distance and short distance. He added that after the split, the new companies would be fit for privatization.

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