Montenegro buys minority shares in rail firms ahead of merger

Before the transactions, the government held 90.8% of ZPCG and 85.4% of OZVS.

Prior to the transactions, on May 10, the government said it planned to repurchase shares from minority shareholders in the two companies with the aim of merging them. It has said it was planning to pay 1.70 euro per ZPCG share and 2.10 euro per OZVS share, thus raising its stake in ZPCG to more than 98% and in OZVS to more than 96%.

In February, the government said it mandated the transport ministry to take all necessary measures to facilitate the merger of OZVS and ZPCG, to save OZVS from bankruptcy.

($ = 0.923 euro)