Austrian Post buys stake in Romanian firm Post Master

Newsroom 21/10/2011 | 17:04

The Austrian Post has entered the Romanian market via the acquisition of a 26 percent stake in Romanian company Post Master, with activities in direct marketing.

The price of the transaction was not made public.

Over the next two years, the Austrian company also has the option of purchasing the entire stake in Post Master.

Lawfirm Schoenherr was the consultant acting on behalf of the Austrian Post in this transaction.

Post Master was founded in 2007 and last year posted a turnover of EUR 6.7 million, having approximately 100 employees and offices in 23 Romanian counties. The estimations are that Post Master will have a turnover of EUR 10 million at the end of this year.

The main shareholder in the Austrian Post is the Austrian state, with a 53 percent stake owned by Österreichische Industrieholding. The rest of the shares are owned by private investors, which purchased them after the company was listed on the stock exchange in 2009. The Austrian Post had revenues of EUR 2.35 billion last year.

The Austrian Post may also be interested in acquiring a stake in the Romanian Post, according to the Communications Minister Valerian Vreme. The Romanian Post is currently trying to attract an investor into its shareholding structure.