New deadline for agreement on Mercator's debts?

The creditor banks of the largest Slovenian retailer Mercator and Croatia's Agrokor will sign an agreement by the week's end to extend the deadline again for the final agreement on the restructuring of Mercator's loans, the business daily Finance reported Thursday.
The media announced February 4 that the banks and Agrokor had agreed in principle to the restructuring of debts and the recapitalization of Mercator after it was taken over by Croats, adding that they had also agreed to sign such agreement by the end of February, which was not officially confirmed later.

Now this deadline will be extended again, Finance reports and reminds that the whole procedure related to the sale of a majority stake in Mercator to Agrokor should be completely finished by the end of May.

According to a sales agreement from June 2013, the consortium of majority owners of Mercator would be paid EUR 120 per share by Agrokor. However, Agrokor offered a lower price late last year because the banks requested from this company to additionally recapitalize Mercator and pay off a fifth of its debts when taking it over. This new share price is still pending approval from the consortium. By the way, the current price of Mercator shares on the Ljublljana Stock Exchange is at EUR 70.

Poslovni sistem Mercator d.d. Ljubljana

Idea Marketi doo Beograd

Fortenova grupa d.d.

RATTAN HAUS

Ljubljanska berza d.d. Ljubljana

Mercator

Mercator sale

Mercator recapitalization

recapitalization of Mercator