8.3 C
November 24, 2022

Full takeover of Postmaster Bucuresti by Austrian Post

The Austrian Post Group, Austria’s national post company, increased its shareholding from 26 pc to 100 pc in Postmaster Bucuresti, taking over the stakes held by three private individuals, Mediafax reports. “The full takeover of Postmaster seeks Austrian Post’s better positioning with a view toward Romanian postal market liberalization on January 1, 2013. We want to take advantage of that moment,” Adreas Dragosits, vice president Austrian Post, told a press conference. The parties have not disclosed the transaction value. The Austrian post operator became a Postmaster shareholder in Oct 2011. Asked whether Austrian Post takes an interest in becoming a strategic investor in the Romanian Post, Dragosits answered negatively. Until December 31, 2012 the Romanian National Post Company has exclusive rights to postal services dealing with sending correspondence. Present at the event, Mihai Balaj, one of the former associates of Postmaster, said he had invested EUR 1 M in various postal equipment and machinery. “The investments will carry on in 2013. As I announced before, the Postmaster turnover will exceed EUR 11 M this year and we want a double-digit rise in revenues in 2013,” said Balaj.

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