Slovenian grocery retailer Mercator has said it has launched a takeover bid valued at around US$60m for Serbia’s largest retail chain, C Market.

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Mercator said it had offered 18,000 Serbian dinars (US$293.3) for each C Market share, in a bid that expires on 24 October, reported Reuters.


The Slovenian company said that although its offer was for all shares in C Market, it would accept a stake of more than one third.


“Mercator wants to acquire at least 67,067 shares or 33.4% of C Market,” the company was quoted by Reuters as saying.

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