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09.01.2013 13:01Nine in the Line-Up for State Railway Freight Division Privatization
Grup Feroviar Român is the most ambitious among all candidates, having submitted its acquisition intent twice – once under its own name and once on the behalf of the Bulgarian Railway Company which it owns
© Andi bxg@flickr.com
Nine companies have purchased the papers for the sale of state-owned cargo railway carrier BDZ-Freight, the Privatization and Post-Privatization Control Agency (PPCA) announced.
Grup Feroviar Român is the most ambitious among all candidates, having submitted its acquisition intent twice – once under its own name and once on the behalf of the Bulgarian Railway Company which it owns.
A new participant in the tender procedure is the Bulgarian Shipping Company, owned by Chimimport, part of the Varna-base group TIM.
First Investment Bank (FIB) is also among the major candidates for acquiring the state cargo carrier, although FIB could be participating on the behalf of a client.
The rest of the candidates are law firms which work for entities which remain undisclosed at this point.
By Jan 28, all candidates should submit the required paperwork which proves that they comply with the terms set by the PPCA. The approved candidates will be allowed to the next stage which involves meetings with BDZ executives and inspection of the company’s assets. By March 20 all of the candidates interested in taking part in the tender procedure should deposit a EUR 20 m guarantee.
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