CSAT approves CFR Marfa privatisation

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FinMin Daniel Chitoiu has made the announcement that the Supreme Defence Council (CSAT) yesterday had approved the privatisation of CFR Marfa and that the Government would adopt today the strategy for the privatisation of the company.  The Ministry of Transport will take the necessary action in view of privatisation and tomorrow (today – a/n), the Cabinet will adopt the privatisation strategy. By mid-June we should already know the buyer of CFR Marfa. (…) It is going to be a privatisation with a strategic investor, with EUR 10 M participation guarantee so that we no longer have bidders such as those for Oltchim, and tenders will be submitted in sealed envelopes, therefore it will be an auction with a strategic investor’, said the Deputy Prime Minister.

The state will sell its majority stock in CFR Marfa by negotiation based on preliminary, non-binding offers presented in envelopes, where the bidding guarantee will be the equivalent of EUR 10 M, representing 17 per cent of the nominal value of the shares owned by the state. The CSAT meeting also addressed the participation of Romania in the EU mission to Mali, approving to send ten military with the EU mission in Mali in 2013. It tackled the cyber security strategy and the evaluation of the work of agencies that had managed the Algeria hostage crisis, according to a Presidential Administration release. The CSAT meeting began at about 2 pm and lasted over two hours. According to presidency release, CSAT approved yesterday the annual supplementation of the Ministry of Defence budget by 0.3 per cent of the GDP every year, until reaching, by 2016, the level of 2 per cent of GDP. CSAT also has given the go-ahead for the multi-annual programme to reestablish the fighting capacity of the Romanian Army.