PODGORICA (Montenegro), December 23 (SeeNews) – Montenegro said it has received a single binding bid in its tender for the sale of a 30% state-owned stake in port operator Luka Bar.
The bid of 7.1 million euro ($7.4 million) was placed by Polish company OT Logistics, according to an announcement posted on the website of the government's privatisation agency.
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OT Logistics has also proposed a 17.1 million euro three-year investment programme which includes hydrological works at Volujica dock and construction of silos and cargo processing facilities, the agency in charge of sales of state-owned assets added.
The business plan proposed by OT Logistics envisages tripling of annual cargo traffic at the port in three years after the potential sale of the 30% stake.
A total of 17,030,021 state-owned shares in Luka Bar, with a nominal value of 1.2113 euro each, are up for sale. The majority owner of Luka Bar is the Montenegrin government with a stake of 54.05%.
($ = 0.957197 euro)