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Croatian transport ministry cancels privatization talks with Grampet Group

The Croatian government on Thursday formally scrapped the sale of its 75 per cent stake in the Croatian Railways (HZ) Cargo company to the Romanian Grampet Group. Transport Minister Sinisa Hajdas Doncic recalled at a government session that the negotiations with Grampet were canceled because of considerable departures from the terms contained in Grampet’s binding offer for HZ Cargo.

The government’s negotiators also objected to Grampet’s demand that the government guarantee that other operators would not enter the market in the period ahead and that the state would pay to provide for redundant workers.

The minister said the government also could not agree to the demand for another due diligence of HZ Cargo since all the data available was provided during the first two due diligence processes.

The bad news continued for Grampet Chairman of the Board, Gruia Stoica, as he taken into questioning yesterday at the headquarters of the Romanian National Anticorruption Directorate (DNA). According to prosecutors, he was allegedly involved in fixing a bid to favor his company against the state – owned CFR Marfa, according to Mediafax news agency.

 

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