| Make foodmate.com your Homepage | Wap | Archiver
Advanced Top
Search Promotion
Search Promotion
Post New Products
Post New Products
Business Center
Business Center
 
Current Position:Home » News » Marketing & Retail » Retail » Topic

Agrokor Agree Lower Price For Mercator Takeover As Deadline Extended

Zoom in font  Zoom out font Published: 2014-03-06  Views: 29
Core Tip: Croatian food manufacturer Agrokor has reportedly agreed new takeover terms with owners of Slovenia's largest food retailer Mercator, nearly a year after the acquisition was initially announced.
Croatian food manufacturer AgMercatorrokor has reportedly agreed new takeover terms with owners of Slovenia's largest food retailer Mercator, nearly a year after the acquisition was initially announced.

In June 2013, Agrokor signed a deal to buy the 53.1% majority stake in Mercator from a consortium of 12 local firms and banks. This deal was conditional on the complete debt restructuring of Mercator.

The deadline for this debt restructure process was set for the end of January 2014, but this was extended to 28 February, and has now been re-scheduled till 30 June.

Sovenian business paper 'Finance', has reported that under the new takeover terms, Agrokor will pay €86 per share down from a previous offer of €120, valuing Mercator at €323.8 million.

'Finance' quoted Pivovarna Lasko, Slovenia's largest beverage producer which holds a 23% stake in Mercator, as the source behind this lowered offer story.

But among the new terms is the condition that Agrokor boost Mercator's capital by €225 million.

 
 
[ News search ]  [ ]  [ Notify friends ]  [ Print ]  [ Close ]

 
 
0 in all [view all]  Related Comments

 
Hot Graphics
Hot News
Hot Topics
 
 
Powered by Global FoodMate