Bulgarian State Railways Become Holding Company
Thursday, 01 January 1970
Bulgaria's indebted state railways company BDZ was transformed into a holding company as part of a restructuring process aimed to make the company more attractive to investors, the Transport Ministry said on Wednesday.
BDZ's restructuring is a condition for receiving a 460 million lev ($328 million/235 million euro) loan from the World Bank.
After the transformation BDZ will have two units - one in charge of passenger transportation and the other of cargo transport, as well as a top-tier structure into which non-operating assets will be transferred, the ministry said in a statement.