German VTG buys two Romanian rail freight companies, sources say
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The German company VTG Rail, a subsidiary of VTG, specialized in logistics operations and management of railway assets, enters the Romanian market through the acquisition of E-P Rail and CER Fersped, companies owned by businessman Radu Gheorghiu, according to Club Feroviar.
Sources close to the transaction say that the operation is in the final negotiation phase. The estimated value of the transaction would be around 40 million euros, according to an evaluation of the two companies by an appraiser from the Big Four. The transaction price was not disclosed.
One of the agreed clauses is to keep the current company manager and shareholder Radu Gheorghiu in the companies for at least three years after signing the contract. The E-P Rail operator will have a competitive advantage in the market following the access to the wagon fleet owned by the largest profit management company in Europe, VTG Rail.
E-P Rail was established in 2013 and has subsidiaries in Slovakia, Slovenia, Hungary, Austria and Germany.
CER Fersped, the other company taken over, has been operating as a private rail freight operator since 2004. The company’s main customer is the EP Rail Group.
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