Yesterday, shares of the Budvanska Rivijera hotel group and Sveti Stefan Hotels were traded in four transactions on the Montenegro Stock Exchange for a total of €24.28m. The transactions were made in favor of the MKG Properties company, owned by the Serbian businessman Miodrag Kostic. In this way, MKP increased the ownership share in these two Montenegrin hotel and tourist companies to more than 30%.
Kostic said that after these transactions, he would announce mandatory decisions on taking over shares in Budvanska Rivijera and Sveti Stefan Hotels, in which the state is the majority owner. With this move, one of the richest people in Serbia has become the most serious candidate for the privatization of these companies.
