Polish company OT Logistics has submit the only bid for a 51% stake in state-owned rail freight operator AD Montecargo. OT Logistics offered EUR 2.5 million euros, with the opportunity to subscribe for new shares through a capital increase, as well as the right to acquire additional shares held by the State of Montenegro and other state institutions. In addition, OT Logistics proposes additional investments of EUR 2.6 million in order to better exploit the existing potential and to strengthen Montecargo’s competitiveness.
“The expansion in the Balkans is an important component in the development of our business. Montecargo works on the railway market perspective, which is important from the point of view of the development of our business. This transaction is part of the implementation of OT Logistics strategy and will increase our ability to handle cargo on the transport corridors connecting to the Baltic and Adriatic Sea ports’, said Zbigniew Nowik, CEO of OT Logistics.
OT Logistics SA is also negotiating with Montenegro authorities the acquisition of a 30% stake in Port of Bar, which provides ample opportunities for the use of intermodal transport in the Balkans and allows easy transport by sea, including agricultural products to Africa and the Middle East.