Montenegro Cancels Tender for 60.7% of Tourism/Hotel Operator Ulcinjska Rivijera

The government’s Privatisation Council said late on Friday it scrapped the privatisation procedure after it received no offers by the expiry of the bidding deadline.

The government had extended the initial September 8 bidding deadline until October 23.

Ulcinjska Rivijera is based on the Adriatic coast and has a registered nominal capital of 63 million euro ($94 million) divided into 1,594,575 shares.

($=0.6664 euro)