BUSINESS

GeoPost invests in Bulgarian firm Speedy, with plan to sell it DPD Romania

Bulgarian courier firm Speedy has informed investors of plans to acquire GeoPost’s delivery businesses in Romania, according to postandparcel.info. The company listed on the Bulgarian stock exchange confirmed last week that it will acquire 100 percent of DPD Romania and 100 percent of Geopost Bulgaria, companies that operate in the Romanian and Bulgarian markets. The firm is buying the stakes from La Poste’s GeoPost Group and the Turkish firm Yurtichi Cargo Servizi AS for BGN 30 M (EUR 15.3 M), with valuations based on eight times the pre-tax earnings. The move comes as GeoPost itself acquires a minority stake in Speedy – initially up to 25 percent of capital. The French firm has been a strategic investor since 2002, and has the option to increase its shareholding to a “significant majority” position.

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