Albpetrol tender, bid bond paid
17/09/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
Although in complete silence and closed for the public, the bid assessment process for the “Albpetrol” sale continues.
Top Channel has learned that the Bid Evaluation Committee has officially received the bid bond for the offer ranked as first, that of the “Vetro and Silk Road Equity”. 10% of the bid (85 million EUR on this case) was frozen by the “Vetro and Silk Road” consortium for the Albanian Government, in an American Bank in Chicago.
The confirmation of the bid bond means that even if the consortium withdraws the bid, the Albanian government will keep the 85 million EUR.
The criteria established by the government foresee that the bid bond should be deposited to one of world’s 50 main banks, and every offer that didn’t respect these criteria would be considered invalid. Due to the big amount of 850 million EUR, the government has decided to not consider it immediately invalid, although the bond was deposited at a local bank in Chicago.
“American Chartered Bank” is ranked 230th only in the USA, far from the tender criteria. But the government has put aside the legal stalemate and has officially confirmed the bond. The Bid Evaluation Committee is verifying the documents of other bidders.
Confidential sources say for Top Channel that the evaluation procedure might take two other weeks before publishing the results for the privatization of the biggest asset of all times in Albania. The Albpetrol buyer will also have the monopoly of the oil rights in Albania, above and under the ground.
Top Channel
