Bulgaria shortlists Romanian Grup Feroviar Roman in railway freight operator privatization

Romanian group Grup Feroviar Roman (GFR) was shortlisted in the privatization of neighbor Bulgaria's railway freight operator BDZ Cargo. “Our admission to the next stage of BDZ Cargo's privatization is proof that GFR is an important player, or regional and European standing. If I was to read between the lines, it also recognizes the quality of strategic investor GFR has,” said Gruia Stoica, president and owner of Grampet Group, which includes GFR. Stoica underlines the importance of a regional operator, which would unite the railway freight activity in Bulgaria, Serbia and Romania, making it truly efficient. Eight other companies bought the documentation and are interested in the privatization of the Bulgarian operator. The investors interested in BDZ Cargo have until end – January to fill-in the necessary documents and must then submit an offer by March 12, as well as create a collateral deposit. This is the second time the Bulgarian Government has tried to privatize BDZ Cargo, after a failed first attempt. This time, only strategic investors and companies from the financial sector can take part in the bid. The asking price was also reduced, from a previous EUR 102 million, to some EUR 51 million. GFR is the second largest railway freight operator in Romania, after the state – owned CFR Marfa. In 2011, the company had a turnover of some EUR 180 million. editor@romania-insider.com (photo source: GFR)