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Romanian Council Approves CFR Marfa Sale, Mediafax Says

Feb. 5 (Bloomberg) -- 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

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