The sale of the state company has been postponed for another four months.
Last week, Grup Feroviar Roman (GFR) transferred RON 90.4 million (approximately EUR 20 million) into an escrow account at Banca Transilvania, an amount which covers 10 percent of the purchasing price for 51 percent of CFR Marfa shares owned by the state, Mediafax informs. Making the payment was a prerequisite in finalizing the privatization and the deadline for transferring the EUR 20 million was due Friday, October 4. According to inside sources, the amount of EUR 20 million comes partly from a corporation consisting of Raiffeisen Bank, Banca Transilvania and OTP and partly from the company’s own resources. The government plans to postpone the final payment deadline for purchasing CFR Marfa, sources at realitatea.net say. The sale of CFR Marfa will supposedly be postponed by four months, but the proposal is up for debate at the next government session. In June, GFR, owned by businessman Gruia Stoica, was officially named winner in the privatization process of CFR Marfa, after offering the price of EUR 202 million for 51 percent of shares. Minister of Transportation Ramona Manescu has asked the Competition Council and advisors for a written point of view regarding the final deadline for the privatization of CFR Marfa, now set on October 15.