Agrokor had not revealed before the deadline for non-binding bids Monday midnight whether it would embark on its fourth attempt to acquire a stake in Mercator, however, the Croatian daily Jutarnji list says the company had not even considered withdrawing from its takeover intention.

Unofficial sources have it that other bidders are mostly financial firms, among them the Mid Europa, Warburg Pincus and TPG funds, while Slovenian media have reported that Mercator is also being eyed by the French grocer E.Leclerc, which has two shopping centres in Slovenia.

The Croatian daily Vecernji list states that Agrokor offered EUR 211 per share (EUR 172.95 on the Ljubljana Stock Exchange on Monday) and the investment funds offered between EUR 155 and 170 per share, while it has not been confirmed whether E.Leclerc has filed a bid.

According to the two Croatian dailies, Agrokor is backed by international institutions like the European Bank for Reconstruction and Development (EBRD), the World Bank and financial firm JP Morgan.

Although the sale will depend strongly on the bidding price, the negative effects of vertical concentration in retail in the region will be put in the equation, Vecernji list points out, adding that politics may once again influence the decision.

Agrokor has already asked for the market regulator's approval of the planned acquisition.