Two of Romania’s larger courier companies, Curiero and TCE Logistica, plan to merge in the latestdeal in the country’s rapidly consolidating express and parcels market. The new company will be
called RTC Logistica.Under the deal, TCE’s owner, the RTC conglomerate, will become the 70% majority shareholderin the merged company, with the former Curiero owner, Marchessa SA, owning most of the remainingshares.
TCE, with revenues of about €11 million in 2007, is the smaller of the two companies butfinancially stronger. Curiero, with revenues of €14 million last year, said earlier this year itwould sell a 25% stake to IT services company Asesoft.
The two companies said that their merger is designed to strengthen their competitive positionand that they are targeting combined revenues of €30 million this year. The new company will tradeunder the name RTC Logistica.
There have been several major transactions in the Romanian CEP market this year, includingDHL’s acquisition of Cargus, GeoPost’s purchase of a 80% stake in Pegasus and the UPS buyout oflocal partner TCS.
