French Giant ‘Vichy’ to Acquire ‘Dr Simo Milošević Institute’

“Dr Simo Milošević Institute” is a medical institute located in Igalo. It is focused on physical medicine, rehabilitation and rheumatism. Montenegrin government has been looking to sell it for a long time — there were two sale announcements in the past few years, but they were unsuccessful. However, this time they changed the conditions — they don’t want to sell it, they want to lease it.

There are many interested parties already, although the official announcement wasn’t made yet. It has been revealed that the French giant “Vichy” is interested in taking over this institute on a long-term lease, but details will be discussed between the two parties. Another interested company in the Igalo-based institute is MK Group, a Serbian company owned by the wealthy Miodrag Kostić – Kole.

“Vichy” is a French company which mostly focuses on skin care, hair care and age-related products. The basis of all their products is the thermal water from a French town Vichy. Vichy is operating under the L’Oreal umbrella, which is a huge global cosmetics company. The Montenegrin government is particularly keen on selling the institute to Vichy because they already own many facilities like this one and they are convinced that they would invest in it heavily and operate it on a high level. Vichy is planning to acquire as many stocks as they can — 54% which is owned by the Montenegrin government and that will be offered for sure once the official announcement has been made. However, they are looking to acquire more — Serbians own around 25% and they would like to buy that too. The interest of Kostić probably isn’t something that Montenegrins would welcome — except if he offered way more money and provided guarantees that he’s going to invest in the facility.

Previous sales never went through. The sales were unsuccessful because the partners couldn’t provide proof and guarantees about their investments plans. In the case of Vichy, this shouldn’t be a problem since they are a very financially stable company.

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