Croatia: Mercator has been sold to Croatian Agrokor Group

Slovenian retail chain Mercator has been sold to Croatian Agrokor Group, according to reports today by the Croatian media citing the announcement of the Slovenian news agency STA.

Trade consortium of majority shareholder of Mercator concluded the agreement with Agrokor Group to sell 53% of Mercator shares, priced at 86 euros per share. In recent weeks, there were increased pressures of certain political and other circles so that the contract wouldn’t be realized.
NLB (New Ljubljana Bank) as a bank, which is 100% owned by the Slovenian state has about 10% of Mercator shares.

Mercator and Agrokor confirmed today that all the conditions for the conclusion of the transaction were fulfilled so that the majority stake in Slovenia’s retail chain can be sold to the largest Croatian food Group. The agreed price per share is 86 euros, meaning that Agrokor for a majority stake in Mercator will have to pay 172 million euros. Agrokor will also make a capital increase in Mercator with 225 million euros, of which 200 million will go to pay off the debt, and 25 million for operating capital.

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