Bulgaria Eyes at least 102 Mln Euro from Sale of Rail Freight Co

Bulgaria Eyes at least 102 Mln Euro from Sale of Rail Freight Co

Bulgaria aims to pocket at least 200 million levs ($133.5 million/102.3 million euro) from the sale of the freight division of state-owned railways company BDZ, the transport minister said.

Part of the proceeds of the sale will be used to cut BDZ's debt, currently standing at some 750 million levs, Ivailo Moskovski told local TV7 channel.

On Tuesday, Bulgaria's privatisation agency said that nine potential buyers had bought documents for the tender for the sale of 100% of BDZ Tovarni Prevozi. Candidates have to place their binding bids by March 12.

Eligible strategic investors should have had a rail freight transport licence for the last five years and a turnover of at least 100 million euro ($130.6 million) in each of the last three years. Financial investors are required to have had at least 400 million euro in assets or equity holdings under management in each of the last three financial years.

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