Correo OCA ''(OCA Mail)'' is an Argentine company created in the province of
Córdoba in 1957 as a "service management" for the company IKA,
Industrias Kaiser Argentina
Industrias Kaiser Argentina S.A. (mostly known for its acronym IKA) was an Argentine automobile manufacturer established in 1956 as a joint venture with Kaiser Motors of the United States. Headquartered in Santa Isabel, Córdoba, the automaker ...
.
History
In 1960 the headquarters were moved to
Buenos Aires
Buenos Aires ( or ; ), officially the Autonomous City of Buenos Aires ( es, link=no, Ciudad Autónoma de Buenos Aires), is the capital and primate city of Argentina. The city is located on the western shore of the Río de la Plata, on South ...
and besides a railroad, OCA also had a fleet of vehicles to ensure the shipping of items.
In 1973, the Government of Argentina passed the post office law 20,216, which replaced Law 816 of 1876, which made the services agreed by private carriers to pass into the hands of the state.
In December 1997, OCA was acquired by 605 million dollars by the
Exxel Group, a private Equity fund managed by the Uruguayan businessman Juan Navarro, who announced the investment to buy
Edcadassa,
Villalonga Furlong ( who is the operator of
Interbaires, which manages the free shop in the Airports) and
Ocasa, all companies belonging to
Alfredo Yabrán
Alfredo Enrique Nalib Yabrán (1 November 1944 – 20 May 1998) was a businessman in Argentina, with close links with the government, in particular with the administration of Carlos Saúl Menem. Yabrán killed himself while facing arrest for susp ...
.
In 2003, the ten OCA creditor banks were left with full control of the firm in exchange for a debt of $230 million that had the Exxel Group
In 2004,
Advent International
Advent International is a global private equity firm focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strategic restructuring in five core ...
, an investment group headquartered in Boston, acquired stake in Correo OCA.
In 2009 the President of the company, Alfredo Romero, agreed with OCA Advent transfer.
See also
*
Alfredo Yabran
References
Communications in Argentina
Companies of Argentina
{{postal-stub