This week the promotions of the hotel group Budvanska Rivijera and Sveti Stefan Hotels were sold in four transactions on the stock exchange of Montenegro for a total of 24,28 million euros. The transactions were made in favor of MKG Properties, owned by Serbian businessman Miodrag Kostic. Thus, MKP increased its ownership in these two Montenegrin hotel and travel companies to over 30%.
Kostic saidthat after these transactions he will announce binding decisions on the acquisition of shares in the hotels Budvanska Rivijera and Sveti Stefan, in which the state is the majority owner. With this move, one of Serbia's richest men became the strongest candidate for the privatization of these companies.
