EUR 46 million for Mercator – Petar Matic part of consortium buying real estate in New Belgrade

The shopping center Mercator in New Belgrade is to get a new owner, all things considered. Belgrade media reported on December 18 that MPC Group, owned by Petar Matic, was buying this shopping center, and Politika wrote on December 19 that the Serbian businessman was a part of the consortium which was to take over this 22,000-m2 piece of real estate in New Belgrade.

The Belgrade daily reports that unofficial information coming from the banking circles is that a price of EUR 46 million was reached in the negotiations, in which Mercator's creditors also took part. This is the epilogue of an agreement initiated back in April at the Palace of Serbia, at the meeting between the suppliers and the creditors of this commercial chain with President Aleksandar Vucic.

The cause for the meeting held on April 7 was the crisis in Croatia's Agrokor, within which Mercator S, Frikom, Dijamant, Mg Mivela, Superkartica, Kikindski Mlin and Nova Sloga operate in Serbia.

The property in New Belgrade is being sold in order to reduce the liabilities of this commercial chain towards banks, it is said. The total amount of EUR 46 million is to be paid to banks and the suppliers of Mercator, and this is expected to be the first step in stabilizing the company's operations.

As Politika learns, EUR 31 million will be used to repay debts towards banks, whereas the remaining EUR 15 million will be used to repay debts towards the suppliers.

Mercator New Belgrade opened in 2002. Let us remind that, two days ago, MPC Group did not wish to comment on the allegations of the purchase of the shopping center.