The sum represents 10% of the price it offered for CFR Marfa.
In June, private freight railway operator GFR won the auction to take over 51% of CFR Marfa, offering EUR202 million. The government decision allowing CFR Marfa’s privatization establishes the sale must be completed by mid-October.
GFR owner Gruia Stoica signed the privatization contract on September 2. The completion of the sale procedure is conditional on transferring the EUR20 million into the escrow account within 30 days from signing the contract.
The money has been granted by a consortium of Raiffeisen Bank, Banca Transilvania and OTP, and a part of it comes from the company’s own revenue resources, people close to the matter told Mediafax.
Prime Minister Victor Ponta said earlier Thursday procedures to privatize CFR Marfa would be suspended if the auction winner failed to transfer EUR20 million in the escrow account by Friday.
Stoica said in September the money would be paid once the antitrust body clears the deal.
Competition Council president Bogdan Chiritoiu said Thursday the antitrust body would send a request for additional information to GFR to complete the clearance process as soon as possible.