Bar, Montenegro (PortSEurope) May 11, 2017 – Montenegrin port operator Luka Bar a.d. has delayed its shareholders’ meeting that had to be carried out on May 11 to appoint board members, as the government has not named any candidates.
Rumours have it that the Montenegrin Bosniak Party (BS), part of the ruling coalition, intends to have the majority of the government’s representatives on the board of Luka Bar and this is causing a delay in the announcement of the candidates.
So far, BS has had a single representative on the board, as much as retail shareholders and the Montenegrin social-democratic party (SD) had. The party of Milo Djukanovic, the leader of the biggest Montenegrin party, the Democratic Party of Socialists (DPS) and a former long-standing prime minister of the small Balkan state, has had two representatives.
The rumours might have been connected to the recent termination of the talks for the sale of a 30% stake in Luka Bar to Poland’s OT Logistics. The termination was announced by Osman Nurkovic, Montenegro’s transport minister and a member of the Bosniak Party, and surprised the management of OT Logistics, which assured that it had fulfilled all government requests.
Last month, the government explained that the privatisation talks were suspended, as the privatisation model of Luka Bar was not in the best interest of Montenegro.
Source: Radio Televizija Crne Gore
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