Slovenia's largest beverage producer Pivovarna Lasko on Friday said that it will sell its stake in the country's largest food retailer Mercator to Croatian food producer and retailer Agrokor.
The decision paves the way for the sale of Mercator as Lasko is a part of a consortium of 12 local firms and banks which want to sell their combined 53 percent stake in Mercator. Lasko holds 23 percent of the food retailer.
According to local media reports Agrokor will pay 120 euros per Mercator share, valuing the whole company at 450 million euros ($598.48 million). Agrokor and Mercator owners refused to comment on the figure.
Later this year the Slovenian government, which does not directly control Mercator but has stakes in companies and banks that do, plans to sell another 15 firms, among them telecoms operator Telekom. ($1 = 0.7519 euros)
