Slovenia’s largest grocer Mercator has indicated that it is planning to raise its share capital, with proceeds earmarked for potential acquisitions.
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The company, which has a current market capitalisation of EUR675m (US$998.6m), has said it will increase its share capital by up to 20%.
The company said that “changed economic conditions” in south-eastern Europe were presenting new opportunities for “strategic connections”.
“The company wants to be ready to use newly issued shares as a financial resource in case of possible strategic connections,” Mercator said.
Mercator did not provide any details about potential takeover targets. A date for the planned share issue is yet to be announced.
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