September 4 (SeeNews) - Montenegro said it has extended the bidding deadline in a tender for a 60.7% stake in tourism and hotel operator Ulcinjska Rivijera to October 23 from September 8.
Bids should be submitted to country's asset-selling body by 1500 local time (1300 GMT) on October 23, the sell-off regulator said on its website without elaborating on the reasons for the deadline extension.
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Ulcinjska Rivijera, based on the Adriatic coast, has a registered nominal capital of 63 million euro ($90 million), divided into 1.594,575 shares with a nominal value of 39.5 euro each. It was not clear whether the state has 100% control of the company.
"Along with submission of its bid, a bidder must pay a deposit or submit a bid bond in favor of the Privatization Council, in the amount of 150,000 euro in a form of an unconditional and on-demand bank guarantee, issued by a bank with at least BBB credit rating, according to the Standard and Poor's Agency or Baa3 according to the Moody’s, or by a bank approved by the agency’s sole discretion, upon previously submitted written request, before bid submission deadline," the public invitation for the tender said.