Romania’s GFR interested in taking over Greek rail-services operator Trainose

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Grup Feroviar Roman (GFR), member of Grampet Group, in joint-venture with U.S. firm Watco Cos LLC will bid for Trainose, Greek rail-services operator, Stergios Pitsiorlas, chairman of the Hellenic Republic Asset Development Fund (HRADF), said in an interview in Athens Friday for bloomberg.com, digi24.ro informs.

According to him, the fund hasn’t received official notification from Russian Railways that it’s no longer interested in Trainose.

Greece will seek to raise as much as EUR 3.5 billion in 2016 from state asset sales, including the country’s two largest ports.

“An important number of privatizations will be completed very fast, in the next six months or so,” Pitsiorlas said.

AP Moeller-Maersk’s APM Terminals unit, China Cosco Holding Co and Philippine port operator International Container Terminal Services Inc are set to submit binding offers for the stake in Piraeus by early December, at the latest, with the transaction due to be completed in early 2016.

Binding offers for Greek train maintenance company Rosco SA will be made in January and for Thessaloniki port in March with both sales to be completed by mid-2016. Both Siemens AG and Alstom SA are interested in Rosco.

After six months of wrangling with creditors, which pushed Greece to the brink of a euro exit, the anti-austerity government of Alexis Tsipras agreed in July to develop a “significantly scaled-up privatization program,” which will generate a total of EUR 50 billion in revenue over the total duration of the country’s latest aid program.

The proceeds from asset sales and other forms of monetization of public assets will be used to repay some of the new bailout loans Greece will receive to recapitalize its battered banks, as well as for financing investments in Europe’s most indebted state. The country has raised EUR 3.5 billion in the past five years from privatization transactions.

 

 

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