According to Novonite, the PPCA says six potential investors have already purchased tender documents. With the exception of Bulgarian Railway Company (BRC), a subsidiary of GFR, Romania, all are Bulgarian consultancies and law firms. Lawyers representing a seventh bidder, thought to be Russian Railways (RZD), have requested an extension due to the Christmas  holiday.

The privatisation process began in November and is PPCA's second attempt to sell Bulgaria's largest railfreight operator, which had a market share of 77.3% (by tonne-km) in 2010 and carried 11.57 million tonnes of freight last year.