February 20 (SeeNews) - Montenegrin tobacco company Novi Duvanski Kombinat Podgorica [MNG:NDKP], which stopped operations in late 2021, has offered for sale property and land at a combined starting price of 11.17 million euro ($12 million), local media reported.
The assets for sale include an administrative building measuring 410 square metres, a restaurant, a customs building, and two halls measuring 9,240 square metres and 4,115 square metres, respectively. Additionally, there is 25,541 square metres of construction land and 5,927 square metres of pasture, among other properties, news agency eKapija reported on Monday, citing the tender invitation.
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All assets are located in the capital Podgorica and should be purchased together, with no option to separate them, the report said.
Interested investors can submit their bids by March 1.
NDKP's owner, United Arab Emirates-based company Grand International FZ-LLC, suspended production at the Montenegrin cigarette maker in November 2021, stating it was dissatisfied with its cooperation with local agriculture producers and the quality of the produced raw tobacco.
Grand International FZ-LLC said it had invested 25 million euro in NDKP since taking over the company in 2016.
Montenegro bourse data showed on Tuesday that Grand International FZ-LLC controls 98.8% of NDKP, while the Montenegrin government owns the remaining 1.2%.
($ = 0.928 euro)