Rami Levy, Apax interested in Israel Postal privatization

The privatization of the Israel Postal Co. is continuing to attract interest from major companies. Sources close to the matter have told “Globes” that Apax Partners investment fund recently contacted the Government Companies Authority for details about the company. Rami Levy’s name has also been linked with the privatization and sources close to the supermarket chain owner have confirmed his interest in the Israel Postal Co.

The next stage in the privatization process is the opening of an information room for which serious bidders will pay a NIS 3 million deposit to enter.

The Government Companies Authority plans privatizing the Israel Postal Co. in two stages by selling 20% to a strategic investor for about NIS 200-250 million and then floating another 20% on the Tel Aviv Stock Exchange.

The Government Companies Authority recently held a conference and among the participants were representatives of private equity fund Fortissimo Capital, international shipping and logistics company UPS, Apollo Fund, Cukierman Logistics, Melisron Ltd. (TASE: MLSR), FIMI Opportunity Funds, Aluma Fund, and Kedma Fund.

However, ahead of any privatization process some major issues remain unresolved. The full value of property owned by the Postal Co. has not yet been assessed. The government is yet to finalize future regulations of the postal sector and those regulations will have a direct impact on Israel Postal Co.’s company value. These regulations include whether the government would fix the price of stamps, how many post office branches the new company could close, and whether the new company would be required to serve the entire country with unified prices.

Published by Globes, Israel business news – – on October 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Source link

What do you think?

Written by Aakash Malu


Leave a Reply

Your email address will not be published. Required fields are marked *





Bykea banks $13m in series B funding as its transportation biz starts to recover

IceCure to distribute cancer-freezing tech in Thailand via Japan’s Terumo Corp