BDZ Freight Services can be privatised at the end of March at the earliest

“Even in case all privatisation requirements are fulfilled in the shortest possible term, the divestment of BDZ Freight Services can become a fact at the end of March at the earliest, Simeon Ananiev, Chairman of the Association of Bulgaria Railway Carriers, predicted to klassa.bg. According to him, the maximum price that can be achieved is BGN 80 mln and the reason is the huge liabilities to the company which cannot be collected, even through legislative proceedings.

According to Ananiev, unlike the previous attempts at the company’s divestment, this time there will be candidates that will reach the stage of submitting offers. Georgi Minchev, Chairman of the Bulgarian Association for Forwarding, Transport and Logistics is of a similar opinion. According to his estimates, the company could be sold at around BGN 95 mln. However, he was adamant that the unpleasant surprises will become known to the buyer only after the purchase of the company. “Some hidden, long-standing receivables which are not being sought by the management at present, might come to the surface,” Minchev predicted to klassa.bg.

The Privatisation and Post-privatisation Control Agency invited on Friday a public tender for the sale of 2,325,087 shares, representing 100% of the capital of BDZ Freight Services JSC. Tender dossiers, excluding the information memorandum of the company, can be purchased within 30 days of the date of publication of the decision in the Official Gazette.

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