The Board of Directors of Plantaže has decided to sell part of its real estate that is not integral to its core business operations as part of efforts to stabilize the company and preserve the iconic Montenegrin brand.
According to the company, these assets are inactive in production or business processes, incur additional property tax costs—especially in urbanized areas—and do not contribute to the company’s strategic goals.
The company responded to claims about the sale of its assets and protests from some residents of Gornja Gorica. Plantaže emphasized that it has been dealing with inherited financial challenges, including debts to the Tax Administration and financial institutions, due to the mismanagement of previous administrations.
Plantaže explained that the land being sold is fully owned by the company (100%) and free of any encumbrances or restrictions. The company noted that this can be easily verified by checking the public land registry. Therefore, there is no formal or legal reason to restrict Plantaže from holding, using, or disposing of the properties.
The decision to sell the assets is part of a broader strategy aimed at optimizing and stabilizing the company, enabling the settlement of large inherited debts, improving credibility with creditors, and laying the foundation for a more stable future.
Additionally, the decision aligns with Plantaže’s investment strategy, which includes diversifying business activities, modernizing production capacities, and directing resources toward projects that strengthen its competitive advantage and improve operational efficiency.
Plantaže stressed that the proceeds from the sale will be used primarily to achieve key strategic objectives.
Regarding the protests from residents of Gornja Gorica, who claim that Plantaže is selling their property, the company stated that these allegations are unfounded. They emphasized that anyone who believes their rights, including property rights, have been violated can seek protection from the relevant state authorities.
The company also clarified that property sales are conducted exclusively through public calls, tenders, or auctions, ensuring full compliance with principles of competition, transparency, equality, and non-discrimination.
The starting price for each property is determined by reports from licensed appraisers, and prices in auctions often exceed initial values, depending on the interest from bidders.
Plantaže disagreed with claims that the properties are being sold “below market value” or that the company is “selling off assets.” They acknowledged that such decisions may provoke diverse reactions but believe they are essential for continuing responsible business operations and achieving sustainable growth. They are confident that the results of these actions will be visible in the near future.
