The consultant will be selected by a committee, made up of one official from investment fund Fondul Proprietatea and three from the Ministry, according to state secretary Marius Fecioru.
The strategic investor will need to be an entity in the postal sector, with a share capital at least equal to Posta Romana’s and with a business of similar size. The investor should be found by mid-2012, at the latest, said Fecioru. The winning offer will be the highest bid for the stock of up to 33%, following a capital hike.
Posta Romana is owned by the Communication Ministry, with a 75% stake, while Fondul Proprietatea holds the remaining 25%. Last year, the company posted debts of EUR29 million.
According to a government document presented by MEDIAFAX in mid-October, following the share capital hike, the state might reduce its stake in Posta Romana to about 51% and will continue to be major shareholder. Fondul Proprietatea’s stake might fall to 15% unless the fund participates in increasing the company’s share capital, reads the document. The document also says the investor will be allowed to appoint a team that will ensure the management of the company for at least ten years.
In August, Communications Minister Valerian Vreme said he was in talks with the representatives of national postal companies in Belgium, Austria and Germany that were interested in becoming shareholders in Posta Romana.