The government passed a decision in Tuesday’s Cabinet meeting raising the Transport Ministry’s privatization activities budget by RON2.5 million. The ministry’s budget for privatization and post-privatization evaluation reports has been decreased from RON11 million to RON8.5 million to pay for CFR Marfa’s advertising.
Romania wants to sell 51% of CFR Marfa in June and for a starting price of RON798.05 million (EUR180 million), and expects bids until May 8.
The winner of the auction is expected to be announced on June 20.
The privatization procedure will include three phases: prequalification, negotiation based on preliminary non-binding offers and sealed-bid auction.
Romanian Transport Minister Relu Fenechiu said recently Tuesday 12 major European companies had expressed interest in CFR Marfa.