Lebanon Businessnews News

CMA CGM subsidiaries win
tender to run postal service
Company operating LibanPost

didn't bid, exits after 25 years

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The consortium of Merit Invest and Colis Privé, which are owned by the CMA CGM group, has won a sealed-bid auction to operate the postal service.

The consortium, which was the only bidder, will replace the company that has been operating LibanPost since 1998.

The new post operator will pay a 15.5 percent share of revenues to the State in the first year while the auction started with a minimum share of ten percent, according to Minister of Telecommunications Johnny Corm.

Corm said that the book of terms and conditions, which was originally bought by three companies, complies with the Court of Audit’s regulations. He also said that the bidding process was carried out according to the public procurement law.

The company operating LibanPost, was formerly co-owned by the family of caretaker Prime Minister Najib Mikati, and was later sold to Saradar Group, the co-investor in which he has a shareholding as well. It had previously announced that it was not interested in participating in the auction. Earlier this year, Mikati asked the Financial Prosecutor to conduct an investigation in order to determine whether LibanPost has been involved in any irregularities as alleged by media reports.

CMA CGM, which is the world’s third largest container shipping company, is based in France and is chaired by the Lebanese French businessman Rodolphe Saadé.
Date Posted: Mar 31, 2023
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