This week, shares of the hotel group Budvanska Rivijera and Sveti Stefan Hotels were sold in four transactions on the Montenegro Stock Exchange for a total of 24.28 million euros. The transactions were made in favor of the company MKG Properties, owned by Serbian businessman Miodrag Kostić. Thus, MKP increased its ownership stake in these two Montenegrin hotel and tourism companies to more than 30%.
Kostić said, that after these transactions he will announce mandatory offers to acquire shares in the Budvanska Rivijera and Sveti Stefan hotels, in which the state is the majority owner. Thanks to this move, one of Serbia's richest men became the most serious candidate for the privatization of these companies.