Romanian Post prepares to increase capital by EUR 37 mln
Romania’s Communications Ministry (MCSI) can start the procedure for increasing the social capital of the Romanian Post by RON 170 million (EUR 37 million), according to financial consultancy firm Deloitte, which has assessed the viability of this operation.
Deloitte has run the prudent private investor test on this operation and the result came out positive, according to MCSI. The authorities will draft this month a Government decision for choosing the method to increase the Romanian Post’s share capital through the contribution of the Romanian state.
The postal operator is currently going through important changes. It will be reorganized into regional profit centers. The company has a yearly turnover of over RON 1 billion (EUR 217 million), 25,000 employees and a gross operational profit of EUR 4.6 million in the first half of 2017.
The Communications Ministry owns a stake of 75% in the postal operator whereas investment fund Fondul Proprietatea has a 25% stake. Fondul Proprietatea has opposed a capital increase at the Romanian Post so far.