Tender Commission for Privatisation: Facts refute claims of Grampet and Vijesti

Podgorica, Montenegro (2 March 2017) -- The following false claims were set out on 2 March 2017 in the daily newspaper “Vijesti”, in the program content published on pages 6 and 7 and announced on the front page:

1. That „the Polish Group OTL is the only” subject that applied to the tender for the purchase of a majority stake in MONTECARGO and the purchase of 30 percent stake in LUKA BAR;

2. That the public invitation “was not published in the international press”;

3. That “was made a big mistake, that is the failure in conducting the tender procedure”, for allegedly some companies have been prevented from participation in public tender for the purchase of MONTECARGO shares.

In order to provide accurate information to domestic and international public, Tender Commission for Privatisation announces the following:

The privatisation process of the Company MONTECARGO AD PODGORICA is carried out in a public and transparent manner and in accordance with the applicable regulatory framework, including the Law on privatisation and the Regulation on stock and property sales via public tender, which also take into account the international standards and procedures, as well as good practice.

In line with common practice, the Public Invitation was published in the national press and on the Internet, and is also published in the international press, specifically in “The Financial Times” on 02.12.2016., and the deadline for applications was extended until 16 January 2017. (Attachment) In accordance with established practice, in order to promote the investment opportunities, the Public Invitation was sent to all economic departments of foreign diplomatic missions in Montenegro and to diplomatic missions of Montenegro abroad.

Thus, the procedure was completely followed and additional measures and activities were taken, in order to get a better response to the public tender as this is in an interest of Montenegro and its citizens.

Bearing in mind that the publication of Public Invitation has been extensively promoted and that the representatives of MONTECARGO AD and Romanian Consortium GRAMPET have good communication, it is really hard to believe that the Consortium GRAMPET had no information on the tender, if they wanted to participate. Two companies participated in the tender. In accordance with the usual practice, all participants were provided with the identical information and access to a Data Room, as well as meetings with the management of the Company.

The letter, copies of which were published in the daily newspaper “Vijesti”, insinuates that visit of the representatives of LUKA BAR, MONTECARGO and Tender Commission contains or implies illegal activities or is a bad business practice. Such insinuations are completely unfounded. The visit was realised on the previously expressed interest of the Poland Company OT Logistics, before the Public Invitation was published. At the invitation of the company OT Logistics Poland, President and the CEO of LUKA BAR, President of MONTECARGO and President of Tender Commission visited the company in May 2016 (the tender was announced in October 2016). This is usual and preferred practice in the promotion phase of each project. In this phase, exclusively prior to the publication of Public invitation, activities to promote the project are being carried out, as an investment opportunity for potential investors, in order to stimulate investor interest, which increases the chance for success of the project. The aim of the visit was to evaluate the seriousness and capacity of potential bidders, because to advertise the tender after expressing the serious interest by potential bidders is a good practice.

It is quite clear from the above that the Tender Commission has no problem, but the one who sent a letter and the one who published inaccurate statements by the simple reason that all the claims are unfounded, and the facts confirm the opposite.

The Tender Commission for Privatisation is sincerely dedicated to transparency and remains ready to present all relevant procedures and processes to Montenegrin and foreign public and open to all constructive suggestions. However, we will continue to resolutely reject all inaccurate and malicious statements, regardless of the source they come from and the means and channels they are launched by, because the aim of such actions is to apply political and financial damage to Montenegro and its citizens.