25 January 2008

Dutch Limon Investments offers over EUR 48 mil for Montepranzo

Dutch company Limon Investments Limited submitted the best offer, of EUR 48.27 million, for 75% state-owned share in Montepranzo-Bokaprodukt from Tivat. It also offered to invest EUR 205 million, state in Tender Commission after opening the bids on Thursday. Consortium of Atlas Group, Atlasmont bank, Boka golf, Brooklet Limited, owned by Canadian billionaire Peter Munk, and golf player Jose Maria Olazabal, offered EUR 16.2 million for Montepranzo shares and EUR 84.95 million of investments.

M.G.I. from Kotor, owned by Belgian Jean Dunortier, offered EUR 1.3 million for shares and EUR 142.5m of investments. Midland Resources Holding Limited was prepared to pay EUR 10m along with EUR 50m of investments.

The Commission stated that these figures need to be taken conditionally as a detailed analysis of each offer needs to be conducted and they need to be officially validated.

Afterwards, offers will be ranked according to their quality and set criteria. "The Commission will give its official statement after reviewing each offer and will give its proposal to the Privatization Council for adoption", states in the official statement.