The national company “Administration of Constanta Sea Ports”, subordinated to the Ministry of Transport, has auctioned a contract worth 2 million Romanian lei (7.8 million Moldovan lei) for the purchase of consulting services for the acquisition of ICS Danube Logistic, the majority owner (the Moldovan state also has a minority stake) and operator of the Giurgiulesti port in Moldova.
“Given the complexity of the transaction and its strategic importance, the following specialized consulting services should be acquired: analysis of relevant documents and information to be requested/received from the seller and preparation by the consultant of a financial, tax, commercial, operational and legal due diligence report on ICS Danube Logistic SRL; valuation of the company and available assets; assistance in the preparation of a non-binding offer (NBO) – if applicable, depending on the due diligence report; assistance in the preparation of binding
The consultant contract will be valid for six weeks from the date of signing. The due diligence report is due within three weeks and must be complete, including an evaluation of the assets to be acquired, business prospects and the status of receivables and liabilities. The price at which negotiations will commence will be accepted upon receipt of this report.
ICS Danube Logistic is a Dutch company owned by the EBRD. It has controlled and managed the Giurgiulesti port since 2004.
On April 14, the EBRD announced that it was “looking for a strategic investor” and, in fact, put the key Moldovan International Free Port of Giurgiulesti up for sale.
