Bulgarian State Railways Become Holding Company

Bulgarian State Railways Become Holding Company

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.

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