News | Wednesday, 04 November 2009

Government scraps bids for Malta Super Yacht Facility

The Maltese Government last night announced that none of the five original proposals submitted for the privatisation of the Malta Super Yacht Facility at Malta Shipyards Limited were satisfactory, amid media reports that the Finance Ministry and the Privatisation Unit had disagreed about the preferred bidder.
A statement issued by the Finance Ministry explained that the decision was taken following “consideration of the proposals submitted…and following some clarifications meetings held”.
“After consultation”, the Government had decided that the Privatisation Unit was to invite “the existing proponents to re-submit a fresh proposal”.
All the bidders for this facility were informed of this decision yesterday, the Finance Ministry added.
An Internet web site had reported yesterday afternoon that the highest bidder, a group of bidders comprising the Hili Group, Francis Busuttil and Sons, Ripard, Falzon Group, S&D and Paul Cardona and Guy Cousch had a major seatback after Coutch was declared bankrupt.
The new company that has taken over Guy Coutch was reported as to be having second thoughts about the privatisation bid for the Malta Super Yacht Facility.
The second highest bidder was submitted jointly by Melita Group and the Spanish Asteros Group.
However, the EU rules under which the privatisation bid was issued stipulate that the tender was to be awarded on basis of the financial bid submitted.

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