Financing of Belgrade Metro Project

Belgrade metro will consist of two lines that should be developed in two stages in the period 2020 – 2025. The total value of the project is approximately EUR 4.4 billion. In September 2019 the Work group, formed by the Serbian government, decided that the Republic of Serbia will be the investor in developing the Belgrade metro. However, it is still not entirely clear how the project will be financed – directly from the State budget with loans from development banks or through some form of private-public initiative. The Work group also decided that the Government should name a special financial…

Tender for the Award of Concession for Two Montenegrin Airports

On 25 November 2019, the following companies expressed their interest. The total deal value is up to EUR 300 million. Four companies, out of seven initially applied, have been shortlisted for the second round of the tendering procedure: Incheon International Airport Corporation from South Korea; GMR from India; Groupe ADP with TAV; Corporacion America Airports from Luxemburg. It is expected that either GMR or Groupe ADP with TAV will be eliminated from the process because ADP recently acquired a 49% share in GMR. The entire tendering procedure has been delayed several times until…

Sale of Lasta a.d.

The Republic of Serbia has announced its intention to privatise Lasta a.d. by selling the state share of 77%. Lasta a.d. is one of the major companies in the transportation sector with a great fleet of coaches for transportation of passengers on local and international lines. The Republic of Serbia contracted BDO Business Advisory Belgrade as a privatisation consultant which finalised its report at the beginning of April 2019. The tender for the sale should take place by June. The minimum price for the sale is unknown, while the value of Lasta a.d. has been estimated in a range between EUR 16…

HCC RunDown 2019

The Hellenic Competition Commission’s (HCC’s) investigatory activity during 2019 was marked by the biggest Dawn Raid carried out to date by HCC’s officials in the banking sector. HCC officials carried out successive unannounced ex officio investigations at the premises of a number of banks and banking associations triggered by complaints filed by market players supporting that the four systemic banks under investigation are alleged to have been involved in anti-competitive horizontal agreements in the provision of banking and payment services.

Listing of the State-owned Company Bucharest Airports National Company

he new Romanian Government, appointed in November 2019, plans to sell part of the shares in the state-owned Bucharest Airports National Company.

IGA Refinancing

IGA, the constructor and operator of the Istanbul Airport, plans to refinance its debts arising from the airport project amounting to around EUR 5 billion.

Airport Investments

The Investment Office states that increasing the total passenger capacity of the Turkish airports to 350 million per year is aimed at an expected investment amount of USD 30 billion.

Nomago Looking for Strategic Partner

Nomago, the largest Slovenian provider of travel and mobility services, is looking for a strategic partner.

Adria Airways Airline in Bankruptcy

Adria Airways was the flag carrier of Slovenia, operating scheduled and charter services to European destinations. The company filed for bankruptcy on 30 September 2019 with debts reported at about EUR 90 million. Slovenia's Economic Development and Technology Minister said that an option to set up a new airline within a few months in order to maintain important air links was being studied.

East Mediterranean Container Port

The Ministry of Transport and Infrastructure plans to construct a new container port in Mersin with an annual 12.8 million TEU capacity.

A New Concession Procedure for Plovdiv Airport is Expected

Аfter the previous procedure was terminated in October 2018, a new concession procedure for Plovdiv Airport is expected.

Halkali - Kapikule High-Speed Train

The project aims to connect Istanbul with the Bulgarian border by constructing a new high-speed train line for 229 km.