Todorić’s Agrokor is changing its tactics for entering Mercator. According to Slovenian Finance, Agrokor will eliminate concerns about over-indebtedness from the outset in its third attempt to purchase the Slovenian retail chain – through a capital increase.
After that, it will separate the food business.
According to Finance, the EBRD and One Equity Partners will provide Agrokor with 400 million euros in fresh capital. Last year, high indebtedness was the argument used by opponents of Agrokor’s takeover of Mercator, who claimed that this acquisition would bury Mercator.
Agrokor partially refinanced its obligations last year by issuing 745 million euros in new bonds and repaying part of the old ones. It should be known tomorrow who has submitted an offer to purchase the largest Slovenian retail chain.
