Neither Avangard, Nor Mank
Tender Commission Confirms a Failure in Competition for the Shipyard
Podgorica – Tender Commission for selling of Adriatic Shipyard (Jadransko brodogradiliste) has proposed the halt in negotiations with the second rated bidder, Swiss company “Avangard”, chairman of this Commission, Branko Vujovic told Vijesti.
Tender Commission expects the Council to halt the negotiation with the company, containing Russian capital, as it has set unacceptable conditions for the take over of 61,57 percent of the state-owned shares. That means, as Vijesti have already announced, that the tender for this Bijela-based company would fail.
Tender Commission estimates that the best solution would be to repeat the tender, given the fact that the financial offers of two remaining bidders do not meet the requirements for the takeover of the state-owned Jadransko brodogradiliste.
“The purchasing agreement with Avangarda cannot be signed, as their requests contradict terms and instructions of this tender”, the Commission says.
Avangard Shipyards International has been an interested party in purchasing the shipyard over the last month and a half, when this company’s representatives have been called for negotiations, after the first-rated bidder – Cypriot consortium “C&S Mercury” - gave up.
Among other things, Swiss company asked for the state to allow mortgage to it’s’ property, until the first investment cycle is completed. It also demanded a Euro 8 million guarantee if the Bijela-based company would loose case with Greek company “Zamounis”, over the sinking of ship ‘Meksiko.’
The Swiss have offered Euro 4 million for a majority package of Brodogradiliste’s shares, 30 million of investment, as well as 5,5 million for social program and 1,45 million for environment.
Cypriots, whose offer has held the first position, had offered Euro 7,1 million for shares and 40 million in investments. London’s “Navalmar” had offered Euro 3,2 million for shares and 5,4 million in investments, while the French consortium, controlled by Canadian billionaire, Peter Mank estimated that the state-owned capital should be sold at the price of only one million Euro. Their planned investment had been 14,59 million.