Fenechiu: Seven or eight companies interested in privatising CFR Marfa

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Alexandru Dragos Draghici is the new manager of CFR Marfa after he was elected by the company’s general shareholders’ assembly following the proposals made by the consultant hired by the Transportation Ministry, Transportation Minister Relu Fenechiu announced yesterday. Aysun Mustafa will be the chairman of the company’s administrative board Mediafax reports. Fenechiu pointed out that he does not personally know the members of the company’s new leadership, the members having been selected on the basis of their CVs, but that the managers will have a tough and complex activity entailing a lot of work. The official also pointed out that the administrators and the general manager have no direct prerogatives in what concerns privatising the company, however he asked them to work with the Transportation Ministry to the interest of the Romanian state more than to the interest of CFR Marfa, the goal being to sell company shares at a price as high as possible. According to Fenechiu, the new managers’ activity could last until July or “somewhat longer,” considering that, although the deadline for nominating the winner of the privatisation is June 20, the property transfer could take longer. He added that the privatisation procedure is “on schedule,” the company on whose basis the offer will be made being currently evaluated.  Seven or eight companies have so far shown an interest in privatising CFR Marfa, the minister added without offering details. The official also stated that until it is privatised CFR Marfa will cede some assets to CFR Infrastructure and he does not believe that massive layoffs will take place until the new majority shareholder is found. Transportation Ministry representatives also announced the membership of the company’s privatisation commission chaired by secretary of state within the Transportation Ministry Cristian Ghibu. Asked about the salaries of the new managers, Fenechiu stated that a talk about salaries is pointless considering that CFR Freight registered losses of RON 250 M in 2012. Likewise, CFR SA, the railway network’s administrator, has agreed with the private freight transportation operators that owe money to the company for the payments to be made in tranches in the next five months, CFR announced in a communiqué.