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Thursday, April 25, 2024
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NewsMontenegro, Goal for Port of Bar is to become an essential hub...

Montenegro, Goal for Port of Bar is to become an essential hub of the logistics system in Southeastern Europe

The state bought 10,459,654 shares (18.42%) of Luka Bar, at a maximum price of €0.90 per share, which, in addition to the existing package, achieved two-thirds ownership in this company and ensured the possibility of making strategic decisions for the further development of not only the ports, but also the entire economy, announced the Ministry of Finance. As they stated, the intention is to continue with the further purchase of shares and the increase of their share in the ownership of the company.

  • According to the data from the Montenegro Stock Exchange, there is a significant response from interested parties for the purchase of the remaining shares. Since the Government’s determination to increase and possibly completely take ownership of the shares of Luka Bar has been expressed before, the intention is to continue with the purchase and to create the preconditions for realization as soon as possible – it is stated in the press release from this department.

The Government’s Intention, they add, is that by increasing the ownership share in the Port of Bar, it fully valorizes the company’s potential in order to become an essential hub of the logistics system in the region of Southeast Europe, given that it represents one of the most profitable companies of this profile and a leader in setting new standards of quality and professionalism, reliability and competitiveness in the field of port services.

  • The purchase of these shares represents an investment of vital national interest, and the expectation is that the implementation of capital infrastructure projects, which will be encouraged by this, will condition a more efficient valorization of the geographical position of this port, facilitate business in the port area, as well as make the generation of the costs themselves more economical – he concluded In the announcement.

Let us remind you that on Friday the Government bought around nine million shares at a total price of 8.18 million EUR, local media reports.

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