July 12, 2014 6:14 PM ET

Air Freight and Logistics

Company Overview of Compania Nationala Posta Romana S.A.

Company Overview

Compania Nationala Posta Romana S.A. provides postal services in Romania. The company offers personal postal services, such as letter mails, postal cards, books, newspapers, magazines, merchandise, money transfer, electronic mail, and various payments services; and business postal services, including franking systems, direct marketing, advertising, express delivery services, and printing solutions. It also provides other services, such as post office box rental, change of destination, retail services, press subscription–contracting, insurance policies, and selling tickets to concerts, shows, and sports competitions. The company was founded in 1991 and is headquartered in Bucharest, Romania.

140 Dacia Blvd

2nd district

Bucharest,  020065

Romania

Founded in 1991

Phone:

40 21 939 3111

Fax:

40 21 330 0557

Key Executives for Compania Nationala Posta Romana S.A.

Executive Director
Executive Director
Executive Director
Executive Director
Executive Director
Compensation as of Fiscal Year 2014.

Compania Nationala Posta Romana S.A. Key Developments

Posta Romana's Privatization To Resume Immediately

The privatization of Compania Nationala Posta Romana S.A. will be resumed immediately after Easter. This happened after the agreement from the European Commission on the conversion in shares of the debt of approximately €56 million. Preliminary offers could be presented in the period June – August 2014, Razvan Cotovelea , the minister for Information Society said. “The first step is the conversion of the debt into shares. If EC approves the conversion we will have a limited period of time to make the privatization. If not, we have a system of claw back, namely we get into situation we are now in, with the Posta with debts to the state. It is not a disaster if we don’t get the agreement, but we have no reason to think we won’t get it. The moment we get the agreement, we will launch the process of privatization meaning we will invite any company interested in browsing the balance books of the Posta, they will analyze and we will start a negotiation with those who present a written preliminary offer. This bid can come somewhere between June and August. If we don’t get any investor who would come with cash and buy 51% of the shares we 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.

Posta Romana Announces Earnings Results for the Fourth Quarter of 2013

Posta Romana announced earnings results for the fourth quarter of 2013. For the quarter, the company reported operating profit of RON 15.1 million ($4.5 million/EUR 3.3 million). The positive result was due to restructuring measures implemented by the company's new management.

Resolution Passed For Posta Romana's Privatization

On September 11, 2013, the Government approved a resolution to convert debts amassed by Compania Nationala Posta Romana S.A. to stocks. The executive approved a resolution modifying a similar act passed in 2012 for approving its privatization strategy, by which it extends the deadline for filing non-binding offers.

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