Romanian holding Grup Feroviar Român, owned by businessman Gruia Stoica, recently bought the task books for the privatization of the Bulgarian railway freight operator BDZ Cargo and is currently analyzing the possibility of taking over the Bulgarian company. The Romanian company took part in a previous bid for BDZ Cargo but it was disqualified on turnover level issues, along with a Turkish company.

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 needed documents, and 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