Romanian Council Approves CFR Marfa Sale, Mediafax Says

Romania’s Supreme Defense Council approved today a plan to sell a majority stake in rail freight company CFR Marfa SA, Mediafax reported, citing Finance Minister Daniel Chitoiu.

Romania plans to auction off CFR Marfa to a strategic investor by mid-June to meet pledges to the International Monetary Fund and the European Union, Chitoiu said, according to the newswire.

Investors interested in acquiring the stake will have to pay a deposit of 10 million euros ($14 million) to participate in the auction, Mediafax said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.