The investor will take over a stake of up to 33% in Posta Romana, as well as the company’s management.
The committee in charge of this reorganization met in its first session Wednesday. It decided that the company that will evaluate Posta Romana for a share capital increase would be selected by December 2011. The consortium that will select the postal company’s strategic investor would be assembled by the end of January 2012.
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 a 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.