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The sales agreement with the Hungarian government and MÁV was signed at the beginning of this year, following the recommendation of the Privatisation Commission in Hungary that the consortium Rail Cargo Austria/Raaberbahn was the best bidder.

The approval on the part of the EU Competition Authority has been given on condition that:

• The consortium Rail Cargo Austria/Raaberbahn be dissolved
• The interest of Speditions Holding in Raaberbahn be terminated
• The holding structure in the forwarding companies be changed

All these conditions are met by Rail Cargo Austria. There are still a few formal processes to be finalised before the date of the actual transfer of ownership, which is expected within a few days.

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