Bulgaria Cancels Sale Procedure for Freight Unit of State Railway Co

Bulgaria Cancels Sale Procedure for Freight Unit of State Railway Co

Bulgaria's privatization agency said it has cancelled the sale procedure for the freight transport unit of state-owned railway holding company BDZ.

The move was prompted by the lack of serious investor interest and the impossibility of holding a competitive process, the privatisation agency said in a press release on Wednesday.

The privatization agency, together with the transport ministry and BDZ, will analyse this outcome and will launch a new privatization procedure within an optimal timeframe.

Last month, Bulgaria opened a one-round public tender procedure to sell its 2,325,087 shares in the rail freight haulier.

Local company Duet Railway Bulgaria was the only candidate buyer to file the relevant classified information clearance documents by Monday when the submission deadline expired.

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