Sole bid submitted for purchase of “Montenegro Defence Industry”

    Podgorica, Montenegro (4 November 2014) — Sole bid, submitted by the consortium consisting of the Belgrade’s “CPR-IMPEX” and “A.T.L.- ATLANTIC TECHNOLOGIES” from Tel Aviv, in the public tender for the sale of 100% of capital of the “Montenegro Defence Industry” was opened at the session of the Tender Commission for Privatisation on 30 October 2014, Montenegro’s Council for Privatisation and Capital Projects states in its today’s press release.

    The press release emphasises that the tender’s rules, published in the public call of 16 September 2014, define the qualification requirements for participation in the tender, according to which a tender participant or entities linked to the participant must not be on the list of companies that violated the sanctions of the UN Security Council or the EU, and has to meet one of the following conditions:

    (i) to be registrated and to have had experience in the main activities of the company in trading in arms and military equipment over at least 3-year period preceding the public call and to have the annual operating income of at least EUR 5,000,000 (five million euros) over the last business year preceding the public call or

    (ii) to have the annual operating income of EUR 15,000,000 (fifteen million euros) over the last business year preceding the public call, and to possess a letter of intent or a signed management contract with a company which meets the qualification requirements prescribed by item 4 of this public call.

    The Tender Commission for Privatisation will assess the legal validity, the bidder’s qualification and fulfillment of the requirements set out in the public call, and officially notify the public about all relevant elements of the privatisation process.

    Source: Government of Montenegro