Serbia sold and Zarko Rakcevic bought 26% of the shares of the Simo Milosevic Institute

Company Vila Olive, owned by businessman Zarko Rakcevic, bought nearly 26% of shares of the Institute "Simo Milosevic" from Igalo. This block of shares was sold by the state of Serbia, for 2,826,829.5 euros this morning on Montenegro Stock Exchange. Rakcevic confirmed to "Vijesti" that the average price of purchased shares was 28.5 euros per share and that his plan was to participate in the forthcoming tender for the privatization of 56 percent of the capital of this joint stock company. He also confirmed that after this purchase, he controll about 27% of the share capital of the Institute.