Eligible investors must provide “relevant and conclusive proof” they have at least EUR150 million for a cash injection into Posta Romana’s share capital, the ministry said.
The ministry owns 75% in Posta Romana, while local investment fund Fondul Proprietatea (FP.RO) has the remainder stake.
“Depending on how Fondul Proprietatea chooses to use its preemption right, the investor shall be granted for subscription 61,916,078 to 94,808,661 shares,” according to the privatization announcement.
The selection process will be carried out via a sealed tender method, combined with a public call tender, preceded by negotiations based on preliminary non-binding offers submitted by the potential investors.
“Instructions on the preparation of final binding offers, as well as the date when they will be opened will be announced at a later time,” the ministry said.
Posta Romana is Romania’s largest provider of postal services. The company reported turnover of 1.26 billion lei (EUR287 million) in 2011, down 8.7% on year.