Romania: CFR Marfa is expected to go bankrupt in the coming period

20.01.2017

Romania: CFR Marfa is expected to go bankrupt in the coming period
Ziarul Financiar, 20 Jan 2017, online:-
CFR Marfa, the freight division of Romanian state-owned railway operator Caile Ferate Romane (CFR), might go bankrupt according to Bogdan Chiritoiu, the Head of the Competition Council (CC) in Romania. In 2015, CFR Marfa's turnover amounted to RON 842mn (EUR 189.42mn USD 212.76mn), generating losses of RON 159mn on 6,324 employees. Data for 2016 are not yet published. The company's privatisation in 2013 has failed after the winner of the tender Group Feroviar Roman (GFR) did not pay EUR 170mn (USD 190.94mn) for an agreed to 51% stake in the company.
©M-Brain
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