JERUSALEM, July 11 (Reuters) - Israel on Tuesday put its postal service on the block after completing a recovering and financial stabilisation process and formulating a strategic plan for the coming years.
The state's privatisation agency said it would sell 100% of Israel Post Co. to an investor or group of investors.
In addition to traditional mail and fast delivery services, Israel Post includes the Postal Bank, which has some 1 million active customers.
Israel Post also owns 278 real estate assets valued at around 600 million shekels ($162 million), it said.
In the first quarter, the company posted adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 67 million shekels and it estimated adjusted EBITDA of 235 million shekels in 2023 after a 36 million shekel loss in 2022.
Persons:
Michal Rosenbaum, Mishael Vaknin, Steven Scheer, David Evans
Organizations:
Israel Post Co, Israel Post, Government Companies Authority, Postal Bank, Thomson
Locations:
Israel, Tel Aviv