Slovenian Dnevnik published a document from UniCredit’s Investment Banking Division in which the banking group expresses its readiness to finance not only 36 percent of Mercator’s shares in the international tender but is also prepared to provide banking support for a public offer that, according to Slovenian laws, should follow thereafter.
– We can confirm that UCIB, UniCredit’s Corporate and Investment Banking Division, in collaboration with other banks in the consortium, intends to support Agrokor in the purchase of one hundred percent of Mercator’s shares – states UniCredit’s letter to Agrokor, which was published today by the Slovenian newspaper Dnevnik. UniCredit expresses satisfaction with the cooperation with Agrokor in the letter and reminds that it has been the arranger or participant in all major Agrokor financial transactions, the latest being the December issuance of bonds worth 400 million euros.
‘During our cooperation, we have always been impressed by the reliability and dedication of Agrokor’s management and their adherence to the outlined plans. In a series of acquisitions over the past ten years, you have proven that you are capable of integrating and improving the operations of acquired companies, positioning Agrokor as a respectable company in the region,’ the letter states. UniCredit reserves the right to further verify the entire deal, but given that it is familiar with the situation in the company as Agrokor’s partner, such a decision seems merely a formality. Slovenian media express concern that Agrokor might transfer the debt arising from the acquisition to Mercator, thereby jeopardizing the position of that company, which is why the decision is not yet final. For the acquisition of one hundred percent of the shares, Agrokor needs at least 500 million euros or slightly more than 3.7 billion kuna. (Amir Kulenović)
