The State Commission for Privatization of the Podgorica Tobacco Combine rejected on Friday the offer from Croatian Agrokor to purchase a part of that combine and proposed to the state Privatization Council to conclude a contract with the Belgrade company Futura plus.
Although Agrokor, owned by Ivica Todorić, offered 6.5 million euros for the purchase of 100% ownership of Duvankomerc, while Futura plus, controlled by Stanko Subotić, offered 2.1 million euros, the commission opted for the Belgrade company.
After a thorough analysis of all elements of the offers, the commission determined that Agrokor does not accept the takeover of Duvankomerc’s debts to the Tobacco Combine amounting to 6.19 million euros, but requires that they be written off, according to the commission’s statement. It also adds that the amendments to the Draft Contract proposed by Agrokor are unacceptable. If the state Privatization Council accepts the commission’s report, the Sale Agreement will be concluded with the company Futura plus, the statement says.
Agrokor already has more than 200 facilities for selling cigarettes and newspapers in Montenegro, which it acquired by purchasing the Štampa and Trgopres chains. (Hina)
