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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.

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