SLOVENIA: Four bids for Mercator stake
Four investors have made bids for a majority stake in Slovenian retailer Mercator, according to a statement from Nova Ljubljanska Banka (NLB), Slovenia's largest bank.
The twelve owners of Mercator, which include the bank, received four non-binding bids for their joint 52.1% of the retailer by the Monday (17 October) deadline.
NLB said three bids were made by financial investors and one by a strategic investor. Numerous financial media have reported that the strategic investor is believed to be Croatian food producer and retailer Agrokor.
However, a spokesperson from Agrokor said: "Unfortunately at this time we can still not confirm if we have or have not submitted a bid on Mercator. Articles in the newspapers are pure speculation."
Media in Slovenia say Agrokor offered EUR221 per Mercator share, which would value the whole company at EUR832m ($1.1bn).
Mercator itself yesterday continue its expansion with an announcement that it plans to take over the trade operations of Bosnian firm Dvropromet.
The Food and Drink Expo took place in Birmingham, UK, this week, hosting a raft of manufacturers and grocers from across the UK's food and drinks sector....
Slovenia-based retailer Mercator, which runs over 1,700 stores across south-eastern Europe, has blamed worsening economic conditions in the second half of 2011 for a fall in annual earnings....
Croatian retailer Agrokor has dropped its bid to acquire a controlling stake in Slovenian rival Mercator....
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