Zepter got 10 more days to pay installment for Igalo

The Tender Commission of Montenegrin Privatization Council has given additional ten days to company "Home Art and Sales Services", owned by Serbian businessman Filip Zepter, to pay 20m EUR for the stocks of Institute Simo Milošević in Igalo – the media in Podgorica announced last night (April 13, 2009).

According to the media, Filip Zepter’s company asked for extension of deadline because of the economic crisis.

Nobody in the Government of Montenegro wanted to confirm or deny that information last night, while Beta was told that the statement was being prepared.

About 15 days ago, the representatives of Montenegrin Government and national funds signed the contract with the representatives of Zepter’s company on sale of 56.4% of stocks of Igalo-based Institute Dr Simo Milošević.

The company owned by the Serbian businessman promised to pay 20m EUR for the stocks of the medical center within 15 working days from the day the contract was signed, and if the money is not paid until that time, the sellers “has the right” to cancel the contract.

The contract anticipates that the Zepter’s company invests 150m EUR in the Institute within next four years.

The health center in Igalo owns two buildings with 650 beds, as well as pediatric ward with 160 beds, which is in a separate building.

The medical complex includes a special facility at about 50,000 square meters with 405 rooms and suites, which is used for spa treatment and sports activities, and it also comprises a restaurant and congress rooms.

The Institute also owns exclusive villa "Galeb" with 22 rooms, swimming pools and conference hall, which was built in 1979 for the needs of Josip Broz Tito, the President of SFRY at the time.