Posta Romana to get privatization offers between June-August 2014
The process of privatization of the national operator in the field of postal services in Romania Posta Romania will be resumed immediately after the agreement from the European Commission on the conversion in shares of the debt of over 242.5 million lei ( approximately EUR 56 million), according to data of ActMedia. 2014-04-16 16:56:30
The debts are registered by Posta Romana to the state budget and the preliminary offers could be presented in the period June-August 2014, Razvan Cotovelea, the minister for Information Society said. According to the official, "there is no reason for not receiving the European agreement, but if it is not given, the authorities can take into consideration listing on the stock exchange or state aid schemes."
According to the official, if the company will not receive any offer coming from any investor who would come with cash and buy 51 percent of the shares, Posta Romania will go on the stock exchange, "a process which takes longer, possibly a year and a half."
If we don't get the agreement we have other backup situations-IPO- we could negotiate in the context where you have the possibility of state aid schemes. Things could be solved but we take too long. Which is the major interest of the government? Not to make losses and help the state budget or to guarantee loans for every state guaranteed loan to the consolidated deficit be quantifiable' said Razvan Cotovelea, quoted by ActMedia.
After the failure of Posta Romana privatisation, of May 2013, the government approved on 11 September 2013 a decision which involves the conversion in shares of the debt of over 242.5 million lei (approximately EUR 56 million) which Posta Romana has to the state budget. The measure aims at the increase of the degree of attractivity of the company for the possible investors.
The privatisation of the Posta will be made through social capital increase by inflow of private capital, by getting a new investor for a package of shares representing 51percent of the social capital of the company, including the one resulting from the conversion of the debts into shares, as long as this is possible, and if the case arises, in an operation of capital increase through emissions of new shares.
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