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December 5, 2020
BUSINESS

GFR submits notification on CFR Marfa takeover


Grup Feroviar Roman (GFR) has legally submitted the notification requesting approval for purchasing CFR Marfa to the Competition Council, Competition Council chairman Bogdan Chiritoiu stated, according to money.ro. “(GFR) has also submitted a series of additional documents, namely annexes (to the privatization contract, which were missing from the file submitted last week – editor’s note). Several clarifications still need to be submitted, especially with regard to market definition”, Chiritoiu stated. The deadline by which the Competition Council must provide a response is five months from receiving complete documentation. The price offered by GRF for the state rail company was EUR 202 million. GFR has also undertaken investments in CFR Marfa of approximately RON 900 million. President Traian Basescu stated Sunday that, given the information at his disposal, GFR would not be able to provide the necessary amount before the deadline expires and conclude the takeover of CFR Marfa.

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