January 21 (SeeNews) - Czech company Philibert has offered 10 million euro ($11.4 million) for the acquisition of 56.48% state-owned shareholding interest in Montenegrin healthcare and spa centre Simo Milosevic, Montenegro's privatisation agency said.
Philibert, in consortium with Montenegrin company Vile Oliva, also proposed to invest 27.9 million euro in Simo Milosevic, the privatisation agency said in a statement on Friday.
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The consortium placed the sole bid in the tender for the sale of 215,954 shares in Simo Milosevic and the privatisation agency now has 15 days to determine whether the offer meets the minimum quality criteria, the institution said.
In August 2015, London-based International Wellness Group Limited (IWG) took over the state-owned stake in Simo Milosevic for 10 million euro but Montenegro's government cancelled the contract In May 2016, as IWG failed to meet its obligations within the agreed deadline. Under the terms of the deal, IWG had to invest at least 50 million euro within five years from the takeover. The agreement also included a commitment to invest 10 million euro in medical equipment.
Healthcare and spa centre Simo Milosevic, also known as InstituteIgalo, is based in the Adriatic resort of Igalo, in the municipality of Herceg Novi.
($ = 0.879352 euro)