The Montenegro Government will sell a majority stake in its “Adriatic Shipyard” AD Bijela.
Invitation for participation in the international public tender for the sale of 61.5749% of the joint stock company Adriatic Shipyard was published on 21 January 2014.
The tender process will be conducted in two stages. The first stage involves determining the fulfillment of the eligibility criteria, followed by the second phase which will be completed in mid-April 2014, in which the participants in the tender have the right to submit proposals in line with the tender’s rules.
The terms of the tender define the following minimum requirements for future investments:
Based on preliminary expressed interest, it is expected that prospective investors will meet the qualification criteria in the first stage of the tender. Following the conducted due diligence in the second phase of the tender, they should submit binding bids, in accordance with the requirements, thus creating conditions for successful privatisation of the company.
[mappress] gov.me, January 22, 2014