Government and Žarko Rakčević Acquire 6.2% of Minority Shares

The Government of Montenegro, alongside businessman Žarko Rakčević, has successfully acquired 6.2% of the shares held by minority shareholders in a strategic move aimed at consolidating control over the Institute. This acquisition involved all paid shares with voting rights not already owned by the Government or parties connected to Rakčević, amounting to a total of 54,846 shares.

In this transaction, the Government and Rakčević offered 58 EUR per share, reflecting their commitment to enhancing governance and operational efficiency at the Institute. The shares in question play a crucial role in the decision-making processes, as they carry significant voting rights.

Officials from the Government have emphasized the necessity of this acquisition to strengthen their influence and ensure that the Institute operates in alignment with national interests. The move is part of a broader strategy to enhance the functionality of public institutions in Montenegro.

This acquisition comes at a time when there is increasing focus on the governance of state-owned entities. By obtaining these shares, the Government aims not only to ensure better oversight but also to potentially drive future initiatives that could benefit the broader economy.

The deal, which was finalized in October 2023, is expected to bolster the operational framework of the Institute and pave the way for further investments. The Government’s partnership with Rakčević signals a new chapter in public-private cooperation within Montenegro’s economic landscape.

Investors and analysts will be closely monitoring the impact of this acquisition on both the Institute’s performance and the wider market. This transaction underscores the ongoing trend of increased state involvement in key sectors, highlighting the Government’s proactive approach in shaping the country’s economic direction.