Brief: OT Logistics closes in on acquisitions in Montenegro

OT Logistics SA

20/03/2017 08:58

March 20 (Reuters) - OT Logistics SA  OTSL.WA : 
    * Said on Friday that it ended talks concerning acquisition 
of Montenegro-based AD Montecargo and Luka Bar AD BAR  
    * The company is to acquire 51 pct in AD Montecargo for 2.5 
million euros and execute 3-years modernization plan for 3.5 
million euros ($3.77 million) subject to approval from 
Montenegro authorities, including parliament  
    * The company is also to buy 30 pct in Luka Bar AD BAR for 
8.3 million euros and conduct 14 million euros investment plan 
subject to approval from Montenegro authorities, including 
parliament 
    * In case the agreement concerning negotiations is signed, 
OT Logistics will also take over operational management of the 
port 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM1790424 
     
 Further company coverage:  OTSL.WA   
    
 
 
 
($1 = 0.9289 euros) 
 
 (Gdynia Newsroom) 
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))