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Consultancy contract for privatization of Romanian Postal Company is signed

The representatives of the Ministry of Communications and Informational Society (MCSI) and the consortium made up of KPMG Romania and Tuca Zbarcea & Associated signed the contract providing specialized consultancy for the privatization process of the Romanian Postal Company.

According to a MCSI release sent to Agerpres on Friday, the contract will run by the end of this year, in compliance with the agenda agreed upon with the International Monetary Fund.

The assigned consultant will assist MCSI to achieve the privatization purposes and will provide consultancy for planning and performing the privatization.

The main stages are to analyze the legal, regulatory and privatization framework, to evaluate the Romanian Postal Company and to propose the privatization strategy. The consortium will also deal with all the measures to attract the strategic investor, with achieving the stages of selection for the agreed investor and with concluding all the necessary agreements to finish the process with the aforesaid investor.

'We concluded the second stage in the privatization process and there follows a period filled up with preparations, meetings, negotiations. We proposed to conclude the privatization by the end of this year. There are already investors, international postal administration as well, which showed interested in investing in the Romanian Postal Company,' said Dan Nica, minister of Communications.

The negotiation talks of the contract between the Evaluation commission for the selection of the consultant and the representatives of the selected consultant were held in September between 24 and 27.

Launching the procedure to purchase consultancy services took place on August 6, 2012 when the announcement for the selection of a world-renowned consultant was made public, an investment bank or a consultancy agency, with privatization experience. The offers were submitted between August 10 and September 10. Three companies bought the tender book and two of them submitted offers, KPMG Romania and the law firm Tuca Zbarcea & Associated, and Pricewaterhouse Coopers.

In the context of the discussions held with the IMF, the Government ruled by the government resolution 761/July 31, 2012 to approve the privatization strategy for the Romanian Postal Company, to launch the privatization process by increasing the shares capital of the company, which might aid to attract a strategic investor as shareholder, with at least 20 percent of shares.

The Romanian Postal Company is the leading operator of postal services with a territorial network of about 7,100 postal offices and more than 32,000 employees. The Romanian state has 75 percent of shares at the Romanian Postal Company and the rest of 25 are owned by Proprietatea Fund.




Monday, October 1, 2012