Zepter bought Igalo-based Institute "Simo Milošević"

Swiss company "Home Art&Sales Services" has signed the contract today (March 23, 2009) with the Government of Montenegro and national funds on procurement of 56.4% of stocks of Igalo-based Institute "Dr Simo Milošević" for 20m EUR.

The Swiss company owned by Serbian businessman Filip Zepter is bound by the contract to invest 150m EUR in the Institute within next four years.

The buyer promised to pay the purchase price for medical center in Igalo within next 15 working days. If the buyer breaks the promise, the seller is free to cancel the contract.

The CEO of Montenegrin Agency for Economy Restructuring and Foreign Investments, Branko Vujović, said that the investment programme anticipated expansion of capacities and raising of the quality of the Institute to the level of four and five stars.

As he explained, the intention of the Government of Montenegro is to preserve primary field of work of the Institute.