The bid for the sale of the state-owned Albanian insurance company had
four bidders, the highest offered by Eurosig, with 2.222 billion ALL.
The tree other bids were coming from three other Albanian companies, Balfin, Kastrati and Duraku, respectively offering 1.6, 1.1 and 2.1 bln ALL.
The Ministry of Finances says that the highest bid is equal to the value of INSIG, which is 15.3 million EUR or 2.1 billion ALL.
The government decision says that the price will take 80% of the total evaluation points, while the business plan of the buyers will have 10 points.
The Commission has nine days to value the bids. They will need to write a draft-decision through which the winner will be declared by the government. The bid for INSIG comes in a difficult time for the economy.
Despite this, the process has a novelty. This is the first process with only Albanian companies which compete for a bid that gives to the budget 20 million USD.
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