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Bulgaria : Creditors of BDZ aim to sell State Railways assets in Bulgaria

April 28, 2014

The creditors of Bulgaria'sState Railways (BDZ) are aiming to sell of the company's most valuable assets.

Transport Minister Danail Papazov commented that the large creditors like the banks BNP Paribas, Societe Generale, KFW, Dexia, Depfa and First Investment Bank, will have discussion in the beginning of May. In that meeting they will decide to sell off the 25 diesel Desiro trains and more than 3000 freight cars. This would not bankrupt BDZ, according to Papazov.

Papazov commented that the toughest negotiations were with the German FMS Wertmanagement who block BDZ's bank accounts in March because of a default on EUR 11 M debt.

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Source: TendersInfo (India)

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