Mercator and Agrokor owners reach new agreement - Deadline to complete acquisition extended until June 30

A consortium of majority owners of Mercator and the Agrokor group signed Friday (28 February 2014) an annex to last year's sales agreement, which extends the deadline to complete the acquisition until June 30th, it was announced in a release by Pivovarna Lasko (PL), the biggest individual shareholder of Mercator in aforementioned consortium.
This decision of PL is yet to be confirmed by the Supervisory Board. The annex also determines the new selling price for shares - EUR 86.

According to the news agency Slovenacka tiskovna agencija (STA), Agrokor is bound by this annex to recapitalize Mercator with EUR 225 million, EUR 200 million of which shall be paid to creditor banks to which Mercator currently owes EUR 1 billion, whereas the remaining funds will serve as the company's capital. In addition, creditor banks will provide additional EUR 100 million in loans for the purpose of financial stabilization of Mercator's debt.

In last year's sales agreement, the price for Mercator shares was set to EUR 120 and the deadline to conclude this deal was May 31st.

Poslovni sistem Mercator d.d. Ljubljana

Mercator-S d.o.o Beograd

Fortenova grupa d.d.

Pivovarna Laško d.d. Laško

Mercator

Mercator sale

sale of Mercator

Mercator recapitalization