The Share Sale Agreement of the MTMG –Maritime Bulk Terminal Gdynia Ltd. was officially signed on 29.08.2011 at 12.00 at the headquarters of the Port of Gdynia Authority SA . The sale price of 100% shares of that company sold to the ATIC Services with the headquarters in Paris amounts to PLN 60,303,760.00.
MTMG company, whose shares were sold today by the Port of Gdynia Authority SA, is engaged in providing cargo-handling services, storage, big-bagging and sorting all the bulk that is dealt with in ports and maritime trade. The terminal offers handling services related to: coal and coke, grain and feed, ore and other dry and liquid bulk cargo, oil and petroleum products as well as general cargo.MTMG - Maritime Bulk Terminal Gdynia Ltd. has been achieving positive operating and financial results for many years.
Privatization processes carried out by the Port of Gdynia Authority SA comply with the statutory tasks and one of the priorities set out in the Development Strategy for the Port of Gdynia. The model of port management adopted in Poland assumes the separation of the spheres management and operations, which in practice means the exclusion of public entities managing the ports from the operator services market. The responsibility of the ports authorities is to provide free access to the services provided on a competitive basis by operators from the private sector. The beginning of the privatization processes in the port of Gdynia started with the document of 2001 the "Strategy for privatization of companies and ancillary services of PGA SA against the background of the strategy development of the port of Gdynia". The strategy which was updated a number of times, established the mode of privatization for each of the affiliated companies and set the main objectives of privatization.
Privatization of MTMG Ltd. was initiated on the basis of the Resolution of the Supervisory Board of the Port of Gdynia Authority SA of November 2009 on the consent to the commencement of the privatization process aiming at the sale of 100% of shares in the above company by PGA SA through negotiations undertaken on the basis of public invitation. The privatization started in January 2010. The press announcement inviting all interested parties to negotiate the purchase of shares attracted nine entities which responded by submitting a declaration of participation in the privatization. Four (4) binding offers were submitted in July 2010 in the course of the process, two of which meet all the formal requirements. As a result of evaluation of the merits of both bids, the commission for the privatization sent a request to the Board of the PGA SA to grant exclusivity to conduct due diligence to the full extent - and thus begin the third stage of privatization - to the ATIC Services company with the headquarters in Paris. The audit was conducted in September and October 2010.
According to the Board of the Port of Gdynia Authority SA, acquisition of 100% of shares of the bulk terminal of by the Atic Sevices company which undoubtedly is a branch investor, will boost economic, technological and organizational efficiency of the company and thereby it will increase its competitiveness. On the other hand, the Port Authority, as a result of the finalization of the whole process, will obtain regular revenues from the lease agreement concluded for a period of 30 years, and the funds obtained through the sale of shares will be allocated for development and modernization of port infrastructure.
ATIC Services is a major European logistics operator in the bulk cargo - mainly coal. The French company operates in several areas of logistics: it is a direct supplier of products or acts as an agent, it is engaged in comprehensive management of the transport chain, carries out bulk cargo transportation from the suppliers to the customers, carries out handling and storage of cargo in the ports of France, the Netherlands and Belgium, tests the quality standards of bulk cargoes. The main shareholders of Atic Services are ArcelorMittal, EDF Trading and TOTAL.
