Business News

Agrokor Publishes Bid for Outstanding Mercator Shares

Ljubljana, 31 July (STA) - Croatian conglomerate Agrokor published Thursday an offer to buy the remaining 47% stake in grocer Mercator that it does not already own. The bid, like the original takeover priced at EUR 86 per share, values the outstanding stake at EUR 152m and is valid through 1 September.

Agrokor has not determined a threshold for the bid, but analysts expect that the majority of outstanding shareholders will decide to sell.

The Croatian firm plans to delist Mercator from the Ljubljana Stock Exchange and merge it with its retail arm Konzum.

The shareholders that do not accept its offer will probably be squeezed out.

Agrokor will pay just shy of EUR 550m for Mercator in what is one of the biggest takeovers in the Balkans in history.

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