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Poland's state-owned railway to privatize PKP Cargo


Today, PKP SA announced it’s privatizing the state-owned railway and issued a call for tenders on purchasing shares of PKP Cargo SA, the European Union’s second-largest freight-rail operator. Investors will be able to purchase 50 percent of the company’s shares, plus one share, at a maximum. Preliminary tenders are due May 12.
Companies authorized by PKP SA as investors will be able to perform due diligence to examine PKP Cargo's business, financial and/or legal position. On the basis of tenders issued, PKP SA will develop a short list of investors and begin negotiations on a purchase transaction. PKP Cargo provides freight-rail services for domestic and international cargo on major routes in Europe.

“After many years of preparation, we begin the largest privatization project in the railway industry in Europe,” said PKP SA Chairman Maria Wasiak in a prepared statement.

Earlier this year, PKP SA finalized a sale of 60 percent of Bombardier Transportation ZWUS Poland’s stock. The company currently is privatizing Enterprise Infrastructure Repair, and later this year plans to sell shares of Rope Polish Railways, PKP Power and TK Telekom.

Contact Progressive Railroading editorial staff.

More News from 3/21/2011