CFR Marfa to be privatized by year end

Newsroom 09/08/2012 | 08:34

The Romanian minister of Transport, Ovidiu Silaghi, pledged yesterday to privatize the state-owned railway operator CFR Marfa by year end, during a meeting with the IMF, World Bank and European Commission, as part of a larger privatization program agreed by the country with international lenders.

CFR Marfa is the largest freight operator in Romania and registered a loss of about EUR 29 million last year. The government wants to sell the company to a strategic investor.

Silaghi said CFR Marfa will be privatized even in the most pessimistic scenario possible.

The talks with the international institutions have revolved around the appointment of private managers in state-owned enterprises and the privatization schedule for companies in the portfolio of the Transport Ministry.  This includes the privatization of a 20 percent stake in Tarom, the airline operator, on the Bucharest Stock Exchange.

The ministry initially wanted private managers in CFR and CFR Calatori but has now decided to extend the program in another 8 companies with a turnover that exceeds EUR 7.3 million.

The consortium that will recruit CEOs and non-executive members in these companies has already been selected.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue