The resignations of Matej Lahovnik, Rok Rozman, Boris Galić, Zdenko Podlesnik and Marjeta Zevnik will take effect on 28 August, according to a press release by Mercator on the web page of the Ljubljana Stock Exchange.

Agrokor published a takeover bid for the outstanding 47% stake in Mercator last week. The remaining owners were offered EUR 86 a share, on par with that paid for the majority stake. The bid stands until 1 September.

The new owner paid more than EUR 172m for the 53% and will need another EUR 152m to acquire the remaining shares.

As part of a restructuring agreement with creditor banks, Agrokor also provided a EUR 220m subordinated loan to Mercator for recapitalisation and operating assets.