Estonia to auction all Eesti Post shares publicly

Estonia will launch a public written auction of all shares in Eesti Post, the postal company operating under the Omniva brand, ERR reports.

The next stage of the company’s divestment process will be announced at a press conference starting at 1 p.m. on Friday. The event will be broadcast live on the ERR website.

Speakers will include Regional Affairs and Agriculture Minister Hendrik Johannes Terras, Deputy Secretary for Regional Development and Eesti Post supervisory board member Sigrid Soomlais, Eesti Post chairman and chief executive Martti Kuldma, and Robin Viia, a partner at OÜ Superia, which is advising on the sale.

The sale is based on a government decision of April 6 approving Terras’s proposal to sell the company through a public auction. The state will sell all 100 percent of Eesti Post shares.

Eesti Post has net sales of 155 million euros and has become one of the Baltic states’ major logistics groups, with an international reach, modern technology and a functioning distribution network.

The Ministry of Regional Affairs and Agriculture said that legally required postal services, including home delivery of letters and newspapers, will continue to be guaranteed regardless of the company’s ownership. Eesti Post is currently fully owned by the Estonian state.