He and his partner, James Gray-Cheape, currently own 20 percent of DPD (Pegasus), after selling an 80 percent stock to GeoPost, the local subsidiary of the French Postal Company.
“It will happen in 2011, if we have no alternatives. The deadline could be prolonged if the minority shareholders, I and James, decided it. From my point of view, this acquisition was made in 2008, but plans were already drafted in 2007,” Aldescu told Business Standard.
He added that 2009 is “a year of crisis”, which nobody considered, so the final sale could be made latter than 2011. Due to the current economic situation, the value of the 20 percent stock could decline. “For the moment, the company’s results are not outstanding and the value of many companies dropped. However, the financial year that will be considered [for the sale] is 2010,” Aldescu said. In the first quarter of 2009, the company’s business was 20 percent. In the second quarter, however, it only amounted to 9 percent.
Last year, Pegasus was the seventh-largest company on the local delivery market. Its main competitors are Fan Courier, Cargus (controlled by DHL), and TCE, part of RTC Holding.
