Romania’s CFR To Sell Lands In Cap City For At Least EUR31M

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The lands will be auctioned at the Romanian Commodities Exchange for an opening price of EUR1,606 per one square meter of land, VAT included.

The deadline for submitting the offers is May 27, between 9 a.m. and 12 p.m. (local times) and the auction is scheduled for the same day.

CFR said last September that it will organize a bid to sell seven lands of 12.7 hectares total surface, to collect the funds necessary to pay its debts worth 600 million lei (EUR1=RON3.6698) to the power suppliers.

Last November, CFR increased its share capital to RON479 million from RON144 million, by including in its capital the value of some lands of 39 hectares surface.

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