Ljubljana, 27 December (STA) - The Serbian Commission for the Protection of Competition has cleared the takeover of Slovenian retailer Mercator by Croatia's Agrokor, but the approval is conditional on Agrokor selling at least 21 stores in 15 Serbian cities, Dnevnik reported on Friday.
Agrokor will have to offload the stores to individuals who may not be connected with the managers of Agrokor and Mercator or their associated companies, according to the decision.
The Slovenian competition watchdog approved the acquisition last month without caveats since Agrokor does not have a retail presence in the country. The Croatian competition authority is yet to make a decision.
Agrokor is offering EUR 120 per share for a majority stake in Mercator, an acquisition worth EUR 240m.