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Credit Suisse, Ernst and Young, CA IB shortlisted to organize MÁV Cargo sale

Credit Suisse Securities (Europe), Ernst and Young Consulting and a consortium led by CA IB Capital Market Consulting have been invited to participate in the second round of a tender to organize the privatization of MÁV Cargo Zrt, the spun-off freight unit of state-owned Hungarian railway company MÁV Zrt, MÁV Cargo president Gábor Dióssy said on Friday.

The three bidders were picked from six, Dióssy said. MÁV announced the accelerated negotiated procedure to organize MÁV Cargo's sale on December 7. The deadline for bidding was January 5. The second-round bidders will have until January 15 to submit their offers, after which negotiations will start, Dióssy said. The winner is expected to be announced in February.
The government decided last July to sell MÁV Cargo by the end of 2007. The company generates annual revenue of more than Ft 90 billion.