Magyar Posta, Mid Europa bid for Romanian courier
Wikimedia Commons
Magyar Posta, Hungary始s state-owned postal services provider, is among three companies shortlisted for the acquisition of Romanian courier company Urgent Cargus. The transaction could be completed by the end of this year, according to reports.
According to Romanian business daily Ziarul Financiar, investment funds Mid Europa Partners and Warburg Pincus, as well as Magyar Posta, are the runners in the bidding for Urgent Cargus, Romania始s second biggest express delivery company.
The Romanian company is currently owned by investment fund Abris Capital Partners, and the value of the transaction is estimated at EUR 150-170 million. According to Ziarul Financiar, the highest bidder is likely to be Mid Europa, the company that acquired Hungarian road freight transport company Waberer始s International last year.
The first rumors about the sale of Urgent Cargus emerged early this year, but Abris Capital denied them repeatedly. Mid Europa stepped back previously from running for the company, but has since reconfirmed its bid.
Urgent Cargus is the second biggest courier company in Romania, following FAN Courier, with a headcount of 600. The company targets EUR 80 million revenues for this year.
ADVERTISEMENT
Mapei Targets 6% Higher Revenue This Year
Parliament Negates Mandatory Membership in MOK
Number of Residential Developments in Cities Falls 9%聽
Veronika Spanarova Wins Expat CEO of the Year Award 2023
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
