Seven Buy Tender Papers for Cargo Unit of State Railway Co

Seven Buy Tender Papers for Cargo Unit of State Railway Co

Seven investors have bought documents to participate in a tender for the sale of the freight transport unit of state-owned railway holding company BDZ, a privatisation agency official said.

Tender papers were purchased by First Investment Bank, local consultancy Urista Group, law firms Georgiev, Todorov and Co. and Grigorov and Partners, lawyers Valentin Ivanov and Todor Angelov and the Bulgarian Railway Company (BRC), an official from the agency's press office told SeeNews. BRC is controlled by Bulgaria's Agropolychim and Romania's Grup Feroviar Roman, according to the company's website.

At the end of December, the privatisation agency extended until January 7 the deadline for the purchase of tender documents. Candidates for the state-owned company have to place their binding bids by March 12, the privatisation agency said last month.

A total of 2,325,087 company shares, equivalent to 100% of its capital, were put up for sale.

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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