Kostić to sell sugar factories to Germans ?

Miodrag Kostić, the owner of "MK Commerce", which encompasses four sugar factories, announced that he would sign the contract with "one of the two definitely biggest world sugar manufacturers" until the end of 2005. The owner of "MK Commerce" pointed out that the both biggest sugar production companies, "Sud zuker" and "Nord zuker", were located in Germany and that, besides in that country, they had factories in Poland, Slovakia, Hungary, Austria and France. He didn't state precisely whether these companies were his co-negotiators.

Also, Kostić said that the foreign partner would take over major part of the assets of sugar factories, although not 90%, but around 51-52 %, because "MK Commerce" would remain in sugar business for at least another 3-5 years. On the basis of majority ownership, strategic partner will be in charge of the decision making in the sugar factories that now operate within "MK Commerce".