State to Continue Buyout of Shares of Port of Bar – Aiming for Company to Become Hub of Regional Logistics System

The state has bought out 10,459,654 shares (18.42%) of the Port of Bar at the maximum price of EUR 0.90 per share, whereby, along with its existing package, it has realized a two-third ownership in this company and ensured the possibility of adopting strategic decisions for the further development of not just the port, but the overall economy, the Ministry of Finance of Montenegro announced. According to them, the intention is to continue buying out the shares and increasing their ownership in the company.

– According to the data from Montenegroberza, there is a considerable response from the parties interested in buying out the remaining shares as well. Since the intention of the Government to increase and possibly fully acquire the ownership of the shares of the Port of Bar was expressed earlier, the intention is to continue the buyout and create the pre-conditions for the realization as soon as possible – it is said in their announcement.

The intention of the Government, they add, is to fully valorize the potential of the company by increasing the ownership share in the Port of Bar, so that it would become an essential hub of the logistics system in the region of southeast Europe, considering that it is one of the most profitable companies of this profile and a leader in setting new standards of quality, being professional, reliability and competitiveness in the field of port services.

– The purchase of these shares is an investment of vital national interest, and the expectations are that the realization of the capital infrastructure projects, which will be incited by this, will lead to a more efficient valorization of the geographic position of this port, facilitate the operations in the port are and make the generation of the costs themselves more economical – the announcement concludes.

Let us remind that the Government also bought around nine million shares for a total price of EUR 8.18 million on Friday as well.

Port of Bar

purchase of shares of the Port of Bar

ownership share in the Port of Bar

share buyout