New tender for Podgorica-based Novi duvanski kombinat - February 12, 2015 deadline for investors

The Council for privatization and capital project of Montenegro released a new tender for the sale of shares at "Novi duvanski kombinat Podgorica" (NDKP) and capital increase through plant construction.

A total of 7,6 m shares or 100% share capital of NDKP-a, 69,92% of which owns the Government and30,08% to the City of Podgorica is to go on sale with a commitment that a buyer proposes and implements compulsory investment program for the construction of a plant and production organization at newly planned location in Podgorica or on other location with an approval of seller.

A buyer is obliged to organize at that location production in the period 12 to 15 months from the moment of transaction is carried out. By the time of plant construction, a buyer is obliged to organize production at the existing location.

The subject of the tender if capital increase of the company without share acquisition, in the amount of obligatory investment program for the plant construction, with a commitment of an investor to propose and implement compulsory investment program for the plant construction and production organization at new, planned location (or at some other with the approval).

The stake of the Government and the City of Podgorica in capital at NDKP-a will be defined based on the estimation of an independent evaluator after capital increase.

The interested who comply with one of the terms can participate at tender.

The first term is that a bidder proves it is registered and that it has experience in tobacco industry of at least five years.

The second term is to prove it has an annual business profit of EUR 10 m in the last business year and to have a letter of intention or a contract signed on managing the company which complies with the previous qualification terms.

The interested can deliver offers by February 12 next year.

More information is available HERE.

It was previously announced that new tender for NDKP will be published when interested investors appear , so it is possible that these kinds of companies applied to the authorities of Montenegro.