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Montenegro

FROM THE GOVERNMENT OF SERBIA 30. 08. 2018.   >>  17:40 0

FROM THE GOVERNMENT OF SERBIA

Rakcevic bought 26% of shares of the Institute

Businessman Zarko Rakcevic who owns Hotel and Tourism Company (HTP) Vila Oliva, , bought nearly 26% of the shares of the Simo Milosevic Institute at the Montenegro Stock Exchange today.

Rakcevic told the Mina-business agency that HTP Vila Oliva bought 99.19 thousand shares of the Institute at a price of 28.5 Euros for one, or a total of 2.83 million euros.

"We have visited the Institute for several months with our partners and made the economic, financial and technical analysis of that company, after which we sent to the competent authorities in Montenegro and Serbia a letter of intent to purchase," Rakcevic said.

He said that in response to this initiative, the authorities in Serbia made a decision to sell their proprietorship from almost 26 percent, or 99.19 thousand shares in the Institute, at the price that was the biggest until then at the stock exchange.

Rakcevic has added he hopes that this tourist company, when the state of Montenegro decides to announce a tender for the sale of 56% of shares, will give the most favorable bid.

It is expected that potential of the Institute will be valorized with serious partners in the right way, in favor of the citizens of Herceg Novi and the state.

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