Agrokor's offer to Mercator's small shareholders expires

The proposal of Agrokor to Mercator’s smaller shareholders at EUR 86 per share, expired today noon and the estimations show that majority accepted the offer. This means Agrokor will have 90, but not 100% Mercator’s shares.

It is the price the Croatian company previously acquired 55% at the biggest Slovenian trade chain, acquiring shares from banks and Pivovarna Lasko, Seebiz, the regional portal reports.

The association of small shareholders with the stake of 15% at Mercator, with 16.000 members, estimates majority accepted the offer but that Agrokor will not succeed in complete takeover of Mercator but 90% shares.

Agrokor has so far paid EUR 172 m for 53, 12% shares at Mercator and it would pour additional EUR 152 m for the remaining package.

In agreement with bank trustees, Croatian concern succeeded in agreeing upon Mercator’s debt as well within which Mercator insured sub ordinary loan of EUR 220 mil for capital increase and working capital.