BANKS: Agrokor to acquire Mercator as sole buyer

Creditor banks and Pivovarna Lasko have warned that Agrokor is the sole potential buyer of Mercator, although the management of Mercator announced last week that the sale of a 50-percent stake in Mercator to Agrokor would not happen if there was no international consortium.

The management of the Slovenian retail chain announced Wednesday that the sale of 50% of shares to the Croatian company was not going to happen because there was no international consortium that would guarantee that Agrokor would meet Mercator's requirements, which drew reactions from banks and Pivovarna Lasko as one of the owners.

The management of Mercator was sure that the sale would be negotiated with an international consortium comprising EBRD, IFC and One Equity Partners, which would be ready to provide Agrokor with the funds for the acquisition and take direct part in managing Mercator.

There is no consortium, and creditors and owners have rejected the management's objection and confirmed in a letter to the management that Agrokor is a sole potential buyer.

Therefore, they demand that the potential buyer be allowed to gain a "detailed insight" into Mercator's operations, which would enable the sale of that company.

By the way, Slovenian banks support the position of the management of Mercator, which wants to include obligations related to the protection of employees, suppliers, consumers and other shareholders in an agreement to be concluded with Agrokor.

According to these banks, the Croatian buyer has already promised to keep Mercator's trademark in Slovenia, Serbia, Macedonia, Bulgaria, Montenegro and Albania, as well as that it is ready to increase the number of employees in Slovenia and accept the obligations regarding salaries and perks for the workers of Mercator.

The daily newspaper Delo reports that all three international institutions have sent a new letter to Agrokor after complications arose with the management of Mercator arose, guaranteeing a financial support for the acquisition of Mercator.