Serbian Sugar King Miodrag Kostić Plans to Invest in Tourism and Agriculture of Slovenia

Serbian tycoon Miodrag Kostić, who has been the sugar king for a long time, probably wants to become the king of tourism on the Adriatic coast of Slovenia. He is now interested in Marina Portorož. Therefore, he is actively redeeming the claims to DZS.

According to journalist of the portal, Miodrag Kostić, who has already acquired the Istrabenz Grand Hotel Adriatic Company in Opatija and who is involved in purchasing the Portorož Airport and the Kempinski tourist complex in Savudrija, is now interested is Marino Portorož. This is the reason that causes Kostić’s desire to redeem claims to its proprietary — the DZS Company, which are sold by the Illiquid Bank Management Company (IBMC).

Сербський цукровий король Міодраг Костич

All projects of Miodrag Kostić

Miodrag Kostić has far-reaching plans for Slovenia. A number of facts indicates this statement:

1. At the end of last month, Kostić sold the sugar refining industry in Serbia to a German company named Agrano. By this decision, which was adopted in connection with the projected abolition of quotas on sugar production in the EU in 2017, Kostić showed that the centre of his business interests might move to other countries, including Slovenia. In the course of purchase and sale procedure, Kostić said that the proceeds would be used for investment in tourism and agriculture. According to Serbian journalists, he reportedly plans to transform Portorož into “Slovenian Cannes”.

2. A number of sources from the investment and banking environment has reported in recent weeks that Kostić seriously thinks about moving to Slovenia. He was allegedly pushed to such a decision by a variety of problems with the authorities in Serbia. During the recently held parliamentary elections in Serbia, the Serbian Progressive Party (SPP) swept the polls. The recent and future Prime Minister Aleksandar Vučić leads the party. For many years, Kostić has been a member of the late ex-president of Serbia Zoran Đinđić’s inner circle. Kostić does not enjoy a good reputation among the current government. Therefore, according to the journalists, he quickly withdraws his capital from Serbia.

3. The Slovenian AIK Banka owned by Kostić, this year has acquired 14% of Gorenjske banke. At the same time, Kostić obtained the agreement of Banke Slovenije for purchasing one-fifth of the Gorenjske banke shares, while Kostić makes no secret of his desire to possess the controlling interest. According to the form of incorporation, Gorenjska banka is closely related to Savo, which controls the lion’s share of the Slovenian tourism industry.

4. Kostić possesses almost unlimited financial investment opportunities. A few years ago, the European Bank for Reconstruction and Development (EBRD) approved a loan for investments in Ukraine, which it failed to fulfil due to the outbreak of hostilities. For many years, a question has been discussed on whether Rinat Akhmetov, the richest man in Ukraine, whose son is married to Dajane Kostić, Miodrag Kostić’s daughter, stands behind the projects of Kostić and in what status. Akhmetov has been a business and political ally of the Russian President Vladimir Putin for many years. Slovenia is an EU member state and in such status it becomes interesting for the foreign capital of different origin from the East.