The buyer must notify the Competition Council of the transaction.
In June, GFR won the auction to take over 51% of CFR Marfa, offering EUR202 million. GFR also committed to invest RON900 million in the company and another EUR1.5 million in environmental projects.
The government decision approving the sale of 51% in CFR Marfa to GFR was published in the country’s Official Journal mid-August. The sale is to be finalized within 60 days of publication, namely by mid-October. As per the government decision, if the sale is not finalized within 60 calendar days, the contract is rightfully terminated.