PODGORICA (Montenegro), October 8 (SeeNews) – The Montenegrin government said it has decided to sell 100% of maritime operator Pomorski Poslovi Bar to Italian consortium Ocean-Interlog for 2.15 million euro ($3.0 million).
The government said on its website it approved the sale last week at the recommendation of its Privatisation Council. It did not specify when a deal will be signed.
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The consortium has pledged to invest a further 574,000 euro in the Montenegrin company over the next three years, the statement said.
The government has also adopted a decision to award a 30-year concession to Pomorski Poslovi for operations in the area of the Adriatic port of Bar.
Montenegro opened the tender for Pomorski Poslovi Bar in October 2009. The company was established following the restructuring of the Bar port operator earlier that year.
In April, Montenegrin media reported that, besides Italy’s Interlog, Montenegrin firm Nimont had also taken part in the tender, offering 640,000 euro for the 100% stake.
Pomorski Poslovi Bar is a limited liability company with total registered capital of 864,845 euro, the government has said.
($=0.7192 euro)