The Romanian Post is negotiating with the European Bank for Reconstruction and Development (EBRD) a EUR 100 million loan.

The institution needs the money to invest in its modernization, according to government sources cited by local Profit.ro.

The talks with EBRD have started in London in September, after the privatization of the Romanian Post had failed again. The bank has requested the Post several documents about its financial status, according to the sources. EBRD could grant the loan in the following weeks.

The Belgian postal services operator bpost, which was the only investor that had shown interest in the privatization process, didn’t submit a binding offer for taking over a 51% stake in the company by September 15, when the deadline expired.

Alexandru Petrescu, the general manager of the Romanian Post, said that the sale of shares by public subscription, followed by the listing on the capital market, was the best capitalization option for the Post.

The institution recorded a profit of EUR 5 million at the end of last year, after five years of losses.

editor@romania-insider.com