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Bucharest
October 25, 2020
BUSINESS

CFR Marfa, to be privatised until 2014, without CSAT blockage



Premier Victor Ponta yesterday demanded Transportation minister Ramona Manescu to begin this week the procedures for a new privatisation of CFR Marfa, which will be concluded until the summer of next year, without the government being “blocked” by the Supreme Defence Council (CSAT), Mediafax reports. The privatisation of CFR Marfa could not be completed until the deadline set for October 14 because some banks who extended loans to CFR Marfa did not agree to the change of shareholders and the Competition Council did not have the time it needed in order to give its go-ahead to the transaction. Gruia Stoica, the owner of Grup Feroviar Roman (GFR), the company that was declared winner of the privatisation process, said Tuesday evening that he urged the privatisation commission to return him the guarantee of EUR 10 M and the advance payment of EUR 20 M which he already paid, in view of meeting the privatisation conditions. He declared himself surprised by the statement of Transportation minister Ramona Manescu, who said Monday that the possibility of withholding the guarantee is being analysed. GFR submitted a guarantee of EUR 10 M and made an advance payment of EUR 20 M in an escrow account, representing 10 pc of the value of the shares in CFR Marfa which it was about to purchase. Had the privatisation concluded successfully, GFR should have paid the rest of EUR 172 M.

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