Contract notice: Banking and investment services Tender, Norway - 24740049

Procurement Summary

Country : Norway

Summary : Contract notice: Banking and investment services

Deadline : 10 Sep 2018

Other Information

Notice Type : Tender

TOT Ref.No.: 24740049

Document Ref. No. : 290643-2018

Competition : ICB

Financier : Self Financed

Purchaser Ownership : -

Tender Value : Refer Document

Purchaser's Detail

Purchaser : INNOVASJON NORGE
Office Name: Innovasjon Norge
Address: Postboks 448 Sentrum
Town: Oslo
Postal Code: 0104
Contact Point: Ronny Rosenvold

Phone: +47 90896993
Norway
Email :ronny.rosenvold@kluge.no
URL :https://permalink.mercell.com/88018181.aspx

Tender Details

Object of the contract
Banking and investment services

Description: Contract notice: Banking and investment services

Authority Type: Body governed by public law
Contact Nature: Services
Procedure: Competitive procedure with negotiation
Document: Contract notice
Regulation: European Economic Area (EEA), with participation by GPA countries
Award criteria: The most economic tender
CPV code: 66100000, 66120000, 66140000, 66141000, 66150000, 66100000, 66120000, 66140000, 66141000, 66150000
CPV Description: Banking and investment services.

Investment banking services and related services.

Portfolio management services.

Pension fund management services.

Financial markets administration services.

Procurement of management of Investeringsfond for Nordvest-Russland and 0st-Europa [the Investment Fund for Northwest Russia and Eastern Europe]

Reference Number : 309435-009

The basis for the procurement is Stortinget's [the Norwegian Parliament's] decision n 1158. December 2016, cf. Doc. 8: 103 S (2015-2016) and recommendation 58 S(2016-2017), and Naerings- og fiskeridepartementets [the Ministry of Trade, Industry and Fisheries] (NFDs) letter of assignment of 2.2.2018 to Innovasjon Norge [Innovation Norway].

NFD has given Innovasjon Norge the task of managing the ownership in the investment fund for the investment fund for North West Russia and Eastern Europe. The fund shall be organised as a wholly-owned limited company, hereafter called the investment fund, under Innovation Norway.

The assignment for the manager is to administrate the fund, generate dead-flow, undertake selection of portfolio companies, carry out negotiations, invest in the portfolio companies, develop portfolio companies by contributing with knowledge and network (business development and strategic selection) safeguarding CSR, striving for good owner management and implementing the sale of portfolio companies.

Investment decisions and sales decisions are made the fund's board according to case recommendations from managers.

The manager is to report to Innovasjon Norge with key figures and quarterly reports. The manager is responsible for submitting the annual financial statement for the fund. The manager shall assist with acquiring information and data for evaluations and any investigations carried out by Riksrevisjonen [the Office of the Auditor General] NFD or Innovasjon Norge.

Innovation Norway considers that transfer of the investment funds from the company to a new limited company (the fund) and postponement of the assignment related to management of the fund involves a business transfer according to the working environment act Chapter 16. Further information about the business transfer is in Annex 11.

Furthermore, an assessment has been made the that fund will have to have a concession as a securities company in accordance with the securities trading act. It is therefore a requirement that the manager fulfills the terms for such a concession.

The investment fund must have an office address in S0r-Varanger. The management of the investment fund shall be a competent environment in North Norway.

The fund shall promote industry collaboration between Norway and Russia, other countries that were previously republics in the Soviet Union and other country in Central and Eastern Europe who are not members of EU. The business shall take place inside the limits of the at all times applicable main elements for cooperation between these countries.

The investment fund's mandate and range of application requires a specific awareness of good care of social responsibility and counter-acting of corruption.

The investment fund can invest (equity and subordinated loans) in companies and fund with activity in (1) Russia, (2) other countries that were previously republics in the Soviet Union and countries in (3) Central and Eastern Europe, that are not members of EU. Investments that contribute to wealth crating and industry development in Norway shall be priorities. The investment fun can also invest in (4) companies and fund s located in Nordland, Troms and Finnmark, if this contributed to achieving the objective.

The funding can be used for equity deposit and /or subordinated loans in business in the above named areas subject to participation from Norwegian industry.

The investment fund activities shall be exercised on business terms with the goal of profitability. A yield target shall be set for the investment fund, in line with the government's ownership policy for commercial companies.

The fund's investments shall be carried out on verbatim terms and also with private investors. Under this requirement, the company can also give subordinated loans. In individual companies, the investment fund can invest up to 15 percent of the total equity in the fund at the turn of the year. The investment fund's stake in the individual companies is required to be a maximum of 49 percent. With equity expansion, the investment fund's share shall be a maximum of 49 %, but can be up to 70 % if this does not result in total ownership interest in the company exceeding 49 %.

The manager shall be responsible for management of the fund's equity and the existing proteolysis companies.

Subject to budget changes, changes in the portfolio company values and company's priorities can influence the competition implementation and contract conditions.

The qualification requirements are described in the tender documentation.


Internet address (URL): https://permalink.mercell.com/88018181.aspx

Documents

 Tender Notice