PODGORICA (Montenegro), May 18 (SeeNews) – Polish company OT Logistics has placed a new bid for the acquisition of a 30% state-owned stake in port operator Luka Bar [MNG:LUBA], Montenegro's privatisation council said.
The new bid placed by OT Logistics is much more lucrative than the previous one, the government's sell-off agency said in a statement earlier this week without elaborating.
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A spokesperson for OT Logistics approached by SeeNews neither denied nor confirmed the information but said the company believes it would be possible to work out effective solutions aimed at developing the Bar port in the interest of Montenegro.
According to Montenegrin media reports on Wednesday, the Polish company has offered 8.52 million euro ($9.48 million) for the 30% stake in Luka Bar, the same price as the previous bid, but has proposed to split the port operator into two companies, limiting its ownership to part of Luka Bar assets.
Last week, OT Logistics expressed readiness to resume talks with Montenegro on the sale of stakes in Luka Bar [MNG:LUBA] and freight rail group Montecargo despite the decision of the government to cancel the tenders.
Montenegrin transport minister Osman Nurkovic said in April that the government has terminated the talks for the sale of Luka Bar and Montecargo to OT Logistics as the selected privatisation model was not in the best interests of the seller.
In December, OT Logistics placed the sole bid in a tender for the sale of a 30% state-owned stake in Luka Bar, the operator of Montenegro's Bar seaport. OT Logistics proposed to pay 7.1 million euro for the stake and invest 17.1 million euro over three years.
Montenegro said in January it had received a single binding bid in a tender for the sale of 51% of Montecargo. The bid of 2.5 million euro was also placed by OT Logistics.
($ = 0.899011 euro)