Montenegro's Vektra sells 33% stake in hotel operator - report

Ellena Group bought the shares following a public invitation for their sale which was opened between April 2 and April 9, Matijasevic was quoted as telling local daily Dan earlier this week.

He said that the sale was launched due to Vekra Investments' unpaid credit to local lender CKB.

Montenegro bourse data show that 8,757,878 Vektra Boka shares changed hands at 0.4 euro, or a total of 350,315 euro, on April 2.

As of Wednesday, Ellena Group is the second largest shareholder in Vektra Boka with its 33.3% stake, after troubled diversified corporation Vektra Montenegro with 59.5%. The remainder belongs to small shareholders, data from Montenegro's central securities depository and clearing company showed.

Vektra Montenegro, owned by businessman Dragan Brkovic, has been in bankruptcy proceedings since December 2012. It owns 100% of Vektra Investments.

($ = 0.940)