Agrokor secures funding for Mercator acquisition - Takeover by June 30?

Croatia's Agrokor has secured the funding for the acquisition of Slovenian retailer Mercator, the Ljubljana business daily Finance reports, while Slovenian news agency STA says that the transaction is expected to be finalized by June 30.

A major portion of the required funding totaling EUR 549 million, which is the agreed price of 53-percent stake in Mercator, will be provided by Russia's VTB Bank that will secure EUR 350 million for that purpose, Slovenia's STA and Russia's Itar-tass report.

The European Bank for Reconstruction and Development (EBRD) will contribute EUR 100 million, while the rest will be provided by Agrokor shareholders and the company from its own resources.

Agrokor is the owner of Konzum, the largest food retailer in Croatia, and it also manages Idea stores in Serbia. Mercator covers 45.6 percent of the Slovenian market, Itar-tass reminds.