The ministry wants to sell 51% in CFR Marfa, it said in the auction announcement Friday.
The privatization proceedings comprise three rounds, namely the selection of prequalified buyers, a round of negotiations based on preliminary, non-binding offers and the final sealed-bid auction.
The deadline for prequalifying documents is April 22 and the winner will be selected on June 14.
In a separate statement Friday, Transport Minister Relu Fenechiu said eight “big companies” have expressed interest in CFR Marfa so far. The government official declined to give any names.
CFR Marfa has a share capital of RON312.34 million. The company is 100%-owned by the transport ministry.
Under a EUR3.6 billion loan agreement with the IMF, Romania has pledged to sell shares in several key companies, including Transgaz (TGN.RO), CFR Marfa, natural gas producer Romgaz and nuclear power company Nuclearelectrica.
CFR Marfa was supposed to be auctioned by the end of 2012, but the sale was delayed due to poor market conditions and regulatory proceedings. The government hired a consortium comprising US consultancy firm Deloitte, local firm Musat&Asociatii and France’s Systra to advise on the sale.