Montenegro calls tender for sale of Dr Simo Milosevic Institute.

By bne IntelliNews August 3, 2012
Montenegro has called a tender for the sale of a 56.5% stake in Dr Simo Milosevic Institute, the privatisation council announced. Some 19.2% of the offered stake belong to the state, the Investment-Development Fund of Montenegro owns 23.6%, the Health Insurance Fund of Montenegro - 10.2% and the Employment Bureau of Montenegro - 3.4%. Some of the requirements for investors to participate in the tender are to own at least 51% of at least one medical medical rehabilitation centre and to have total revenue of at least EUR 60mn in the last 3 years. The deadline for submission of bids is September 28, 2012. One of the investors that is already known to have expressed interest in the medical centre is French cosmetics company Vichy. According to reports from last year, Serbian MK Group has also confirmed interest in acquiring Dr Simo Milosevic Institute and transforming it into a luxury hotel resort. State-owned Dr Simo Milosevic Institute has been offered for sale already a few times but without success. The last privatization procedure took place in December 2010 but failed as candidates could not provide proof and guarantees for their investments plans.

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