Mercator-Agrokor case

Agrokor stands by its offer for Mercator, NLB director resigns

21.12.2011 u 11:57

Bionic
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Agrokor managing board member, Ivan Crnjac, told the Slovenian Television on Tuesday evening that this Croatian food and retail concern stood behind its offer for the acquisition of Slovenia's retail company Mercator and he refused to comment a possibility of the postponement of the signing of the takeover agreement.

The postponement might be triggered off by a sudden bid from the Las Vegas-based Eatons Capital that had sent a letter of intent to take over the Pivovarna Lasko brewery (PL), which holds 23.34 percent of Mercator and according to some legal pundits' opinion, all of this could prolong the sale procedure for 15 days.

Crnjac said the Croatian company would follow the developments.

The possible sale of Mercator to Agrokor has been met with opposition trade unions of workers from the retail sector, the Slovenian finance and agriculture ministries as well as but the likeliest future Slovenian Prime Minister Zoran Jankovic, who used to be at the helm of Mercator for years.

Media pundits believe that the sudden offer of the Las Vegas fund could be seen as a legal manouevre made by somebody from Slovenia.

The Nova Ljubljanska Banka (NLB) management board president Bozo Jasovic on Tuesday tendered his irrevocable resignation over the developments and pressure regarding the Mercator-Agrokor case, the "Finance" business daily reported on its web site.