“There are many investors, over ten, which showed interested in Posta Romana privatization and that requested additional information on this procedure,” Nica said
He did not disclose the name of the investors, citing confidentiality contracts.
Nica also said that through the task book, the government will require a EUR2 million guarantee to the investors interested in taking part in the bid. This should prevent the recurrence of the situation at state-run chemical plant Oltchim Ramnicu Valcea (OLT.RO) privatization.
Romania’s Government recently failed to privatize Oltchim because the winning bidder allegedly deceived authorities and the sale fell through.
“The task book will cost EUR50,000, which is added the EUR2 million guarantee,” the minister said.
Posta Romana will be privatized through a share capital hike. Eligible investors will be selected by mid-May and the privatization contract will be signed by mid-June 2013.
The company is controlled by the Communications Ministry, with a 75% stake, while investment fund Fondul Proprietatea (FP.RO) holds the remaining 25% of the shares.
In 2011, the company’s turnover dropped 8.7%, to 1.26 billion lei (EUR287 million), while its net loss widened 50%, to RON182.9 million. The company had debts of RON556.9 million at the end of 2011. (EUR1=RON4.3870)