This week, shares of the hotel group Budvanska Rivijera andSveti Stefan Hotelswere sold in four transactions on the Montenegro Stock Exchange for a total of 24.28 million euros. The transactions were made in favor of 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 saidthat after these transactions he would announce mandatory offers to acquire shares in the hotels Budvanska Rivijera and Sveti Stefan, in which the state is the majority owner. Thanks to this move, one of Serbia’s richest men has become the most serious candidate for the privatization of these companies.