Montenegro: Adriatic Shipyard could sold by end May

The contract on sale of the Adriatic Shipyard, could be signed by the end of the month, upon completion of the second round of negotiations with the Swiss company Avangard Shipyards International, Branko, Director of the Agency for Restructuring of the Economy and Foreign Investments, said. Avangard Shipyard Investments was the second bidder in the tender. Negotiations with  its representatives began after the best bidder, the Cypriot consortium C & S.I and Mercury withdrew. It offered 4 million euros for the 61,75% stake that is on sale and  also undertook to invest 30 million euros.

Source: MINA