Sberbank officially sells Mercator's seized shares

Russian Sberbank announced it will sell 18.53% stake in Mercator which it seized two days ago.

Minimal price at the auction will be EUR 40.58m and the sale will settle a small portion of Agrokor's debt towards Sberbank, Seebiz portal writes.

Analysts predict that one of the larger foreign funds operating in the region could appear as a buyer.

On Tuesday, Agrokor announced their share of Mercator's ownership of 69.57% was not pledged nor in any way jeopardized, and that seized share of 18.53 % of shares is owned by a Dutch company Agrokor Investment BV, which is not part of Croatian concern, but in a 100-percent ownership of Ivica Todoric.

It was explained in the statement that " upon taking loan totaling EUR 100 m from Sberbank in February this year, Ivica Todorić pledged shares of Mercator owned by Agrokor Investments BV as an additional insurance asset’ and that on that basis Sberbank has a direct claim to that property and may initiate seizure procedure.

SBERBANK Rusija

Poslovni sistem Mercator d.d. Ljubljana

Fortenova grupa d.d.

MINISTRSTVO ZA GOSPODARSTVO Ljubljana

Merkator

Agrokor

Agrokor Investment B V

Ivica Todorić

Ministarstvo privrede Slovenije

Zdravko Počivalšek