Two Slovenian banks, majority-owned by the state – Nova Ljubljanska banka and Banka Celje, announced today that they are abandoning the sale of their 15 percent stake in Mercator as they are not satisfied with the received non-binding offers.
"We are not satisfied with the elements of the received offers and the conditions, and we are abandoning the sale of Mercator shares," announced Nova Ljubljanska banka and Banka Celje in a statement. The company Arkas, which organized the collection of non-binding offers for six banks that hold 21 percent of Mercator shares, announced that these six banks will continue with the sale process. Nova Ljubljanska banka and Banka Celje, which own 15 percent of Mercator shares, were not formally part of the consortium of six banks, but coordinated sales activities with Arkas.
"The sale process of 21 percent of shares continues normally. A shorter list of offers needs to be formed now, and after that, a due diligence review will follow, which will be enabled by the management of Mercator," said Uroš Marter, a representative of Arkas, today for the Slovenian Press Agency STA. By February 8, eight non-binding offers had been received for the purchase of Mercator shares, and who the bidders are has not yet been officially announced. (H)
