The proposal is pending shareholder approval at a meeting due August 16.
Investment fund Fondul Proprietatea (FP.RO) owns a 39.1% stake in Severnav, International Railway Services Group holds a 29% stake, while Bucharest-based Investment Group has 21.3% of its shares.
On the Bucharest bourse June 27, Severnav closed up 0.03% at RON3.1 a share.