Sale Process of HETA Asset Resolution Montenegro: Invitation to submit an expression of interest

 Sale of HETA ASSET RESOLUTION Leasing d.o.o. PODGORICA and HETA ASSET RESOLUTION d.o.o. PODGORICA in Montenegro

Invitation to submit an expression of interest (“EOI”)

HETA ASSET RESOLUTION AG (“HETA”), 100% owned by the Republic of Austria, indirectly holds a 100% stake in HETA ASSET RESOLUTION Leasing d.o.o. PODGORICA (“HARLME”). HARLME, in turn, holds a 100% stake in HETA ASSET RESOLUTION d.o.o. PODGORICA (“HARME”). Both HARLME and HARME are non-regulated entities operating within Montenegro. HETA intends to divest all of its shares in HARLME along with its 100% stake in HARME via a share deal in a joint, open, transparent, unconditional and non-discriminatory sales process (the “Sales Process”).

Although the clear preference of HETA is to sell the shares of HARLME to one investor in a single transaction, HETA may allow the bidders to bid separately for the portfolios of both entities. HETA may also decide at a later stage of the process to allow bids solely for parts of the portfolios of the two entities. The commercially best bid will be selected, with preferential treatment given to offers which bid for 100% of HETA’s stake in HARLME including its 100% stake in HARME.

HARLME and HARME are operationally connected companies located in Podgorica, Montenegro, and represent HETA´s entire operations locally in Montenegro. As of 30 June 2017, the joint portfolios of HARLME and HARME include receivables amounting to a gross loan exposure of approximately EUR 191.8 mn and repossessed real estate amounting to a market value of approximately EUR 43.3 mn. For further information regarding HETA, please refer to HETA’s website at www.heta-asset-resolution.com. With regard to the portfolio additional information can be obtained from the marketing materials of HETA´s Financial advisor, Deloitte Financial Advisory GmbH (“Deloitte”), and on the website www.aaaplatform.com or www.heta.me

Deloitte is acting as HETA’s exclusive financial advisor in this Sales Process. Any expression of interest (“EOI”) in order to participate in the Sales Process should be submitted to Deloitte via e-mail (followed by a hard copy) by 29 September 2017, 12 noon (CET) to the contacts stated below. EOI´s should be submitted in English and must include the names and addresses of the interested party (or of all members of a group of interested parties) (“Interested Party” or “Interested Parties”), the names of the contact persons available for further questions as well as the names of any mandated advisors. EOI´s shall further be signed by or on behalf of the Interested Party/-ies.

Furthermore, each EOI should contain sufficiently precise information on the Interested Party, including (without limitation) demonstration that the Interested Party/-ies has/have the financial resources, expertise and incentive necessary to acquire HARLME and HARME as well as a statement that the EOI is submitted in the Interested Party’s/-ies’ own name and own account. Disclosed direct representation is permissible if an original written power of representation is attached to the EOI.

After Interested Party/-ies has/have sent its/their EOI´s to the e-mail addresses listed below (with a hard copy to follow), it/they may receive a Non-Disclosure Agreement.

Once the Non-Disclosure Agreement has been signed by the Interested Party/-ies, any Interested Party who is admitted to the Sales Process will receive further documents regarding the Sales Process.

HETA reserves the right, at its sole discretion, to terminate, modify or suspend the Sales Process as a whole or in part at any time and without being obliged to state the reasons therefore. While HETA will at all times comply with the principles of an open, transparent, unconditional and non-discriminatory Sales Process, no Interested Party will have any claim for any damages or compensation for loss, costs and other expenditure incurred by it in connection with the Sales Process for any reasons and under any circumstances whatsoever, even if the Sales Process is terminated, modified or suspended by HETA. This is neither a commitment nor an obligation to consider or conclude any transaction with any Interested Party and each of HETA, HARLME, HARME and Deloitte, and each of their related parties (affiliates, directors, officers, employees, advisers or agents), expressly state that no representation or warranty with respect to the information provided is made by this invitation and expressly disclaim any and all liability for representations and warranties deemed to be made or statements contained in this invitation to any prospective purchaser.

Contact details: Project E-mail:
[email protected]Laszlo Posfay
E-mail: [email protected]
+36 30 682 8275
Original copies have to be sent to:

Deloitte Co. Ltd.
Dózsa György út 84/C
Budapest, H-1068, Hungary
to kind attention of Laszlo Posfay

 

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