The country’s privatisation agency said Damenoffered EUR 5m ($6.91m) for the shiprepairer’s assets, but made no bid for thestate’s 61.57% stake.
This did not meet the terms of the tender,it added.
The offer included EUR 20m of investmentover two years, but was provided without bank guarantees or a proposal fordealing with the yard’s debts.
Damen was the only bidder in the race. Italy's Fincantieriand a consortium led by Cyprus-registered Blotraco Shipping had pre-qualifiedto bid, but dropped out.
