Still no banking guarantee from Zepter for Institute "Simo Milošević" - project endangered

(Filip Zepter)

Company "Home Art&Sales services", which won on the tender for sale of 56.48% of state-owned stocks in Institute "Simo Milošević" in Igalo, may lose this deal because it has not submitted banking guarantee for the promised 150m EUR worth of investments yet.

If the company owned by Serbian businessman, Filip Zepter, fails to submit required guarantees, Montenegrin Government will start negotiations with the second-ranked bidder - Austrian "Christof" group.

The Government has set the deadline for submission of banking guarantees, which is also the reason why the negotiations with Zepter's company are late.

"Christof" group is ready to press charges against the Government of Montenegro if Zepter's company takes over Igalo-based Institute without previously submitting the first-class banking guarantees.