Turkish Director Global Ports: We want to take over CTGC as soon as possible

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The Executive Director of Turkish Global Ports Sajgin Narin consideres that they offered a lot of money  to purchase the Montenegrin enterprises Container terminals and general cargo (CTGC). The company was the only bidder in the tender for the sale of more than 62 percent of the state's shares.

“Once we have defined the price for CTGC we took into account the valuation of the company based on the analysis of our local and international commercial, financial and legal advisors, and the accumulated know – how, in work with the ports that has our group. I believe that this based evaluation is the best indication of the fair market value of the company, “said Narin in response to a question why the company has not offered more money to take a CTGC.

Narin said that “it should be noted that their offer does not include a price for the action, but also the obligation for significant capital investment and social programs,which is  the total offer for the company about 30 million euros.”

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To purchase 62 percent of the state's shares in Bar company, Global Ports has offered eight million euros. They announced a three-year investment in restructuring CTGC of 13.5 million euros , with an additional of about seven million euros , for the implementation of social programs and for staff support of 6.5 million euros . With the signing of the contract of sale of the majority state-owned shares which is expected, the Parliament will be voting on the concession contract on 30 years.

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