The Slovenia Times

Mercator Takeover Conditionally Cleared in Croatia


Agrokor and Mercator have been ordered to offload 96 stores, a quarter of them in Zagreb, Mladen Cerovac, head of the Competition Agency (AZTN), told the press in Zagreb on Monday.

The stores will have to be sold six months after Agrokor gains control of Mercator. Stores that are not sold until then can be transformed within three additional months or closed within four additional months.

Given the vertical integration of Agrokor, the combined company will have to accept strict rules on suppliers' access.

Approval by the Croatian watchdog is seen as key to the sale of 53% of Mercator to Agrokor, as both Mercator and Agrokor's retail chain Konzum have a strong presence there.

Agrokor now awaits approval in Bosnia-Herzegovina, as it has already received clearance in Slovenia and Serbia.

Agrokor is offering EUR 86 per share for a majority stake in Mercator plus a capital increase. The latest deadline for the deal is 30 June.

Mercator is currently trading at EUR 73.5 on the Ljubljana Stock Exchange, up 0.7%.


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