PODGORICA (Montenegro), February 4 (SeeNews) – Montenegro's privatisation agency has proposed to put hotel operator Budvanska Rivijera [MNG:BUDR] on the 2019 sell-off list, the government has said.
The sell-off agency has recommended to start preparations for the launch of an international tender for the sale of the 58.73% stake owned by the state in the capital of Budvanska Rivijera, the government said in a statement on Friday.
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The agency has also proposed to include workwear manufacturer Castello Montenegro and metallurgy company Institut za crnu metalurgiju in the privatisation list.
Serbian diversified conglomerate MK Group aims to become a majority shareholder in Budvanska Rivijera, the general director of MK Mountain Resort, Nikola Avram, said in June. Currently, MK Group controls a 15.2% stake in the capital of Budvanska Rivijera through AIK Banka, according to data from the Montenegro Stock Exchange.
In March 2018, the Montenegrin privatisation agency said it plans to the sale of the state-owned stake in Budvanska Rivijera following the successful completion of the restructuring of the company.