Slovenian media: Mercator expects offers today

Owners of 53 percent of the shares of the Slovenian retail chain Mercator, which includes banks and Pivovarna Laško (PL), expect the submission of binding offers for their stakes today, including an offer from Agrokor, Slovenian media reported on Friday.

Mercator and the Futura PR agency, authorized by Mercator’s owners to communicate with the public regarding the sale process, did not wish to confirm that today is the last day for submitting offers.

The consortium of sellers of Mercator is expected to receive three binding offers for 53 percent of Mercator’s shares today, including Agrokor’s, as reported by the business newspaper “Finance” on Friday. The article’s author, journalist Petra Sovdat, stated that the information regarding the deadline for submitting binding offers expiring in the afternoon has been verified, although earlier media reports mentioned May 15, and that the outcome of the ninth attempt to sell shares of the largest Slovenian retail chain will certainly be influenced by politics, in addition to the offered price.

The price of Mercator’s shares on the Ljubljana Stock Exchange rose by 2.3 percent on Thursday, amounting to 115 euros, around which Agrokor’s offer is expected to revolve, according to “Finance.”

Alongside Agrokor, unofficial information suggests that at least two of the three previously mentioned funds—CVC Capital Partners, Mid Europa Partners, and Bain Capital Partners—will submit offers today, according to some Slovenian media.

The Ljubljana daily Dnevnik claims that Agrokor will submit its offer even though it has not yet fully closed the financial structure for acquiring a majority stake in the largest Slovenian retail chain, and that instead of bank guarantees, it will offer a non-binding letter of support for financing this project from the fund One Equity Partners, and will condition the realization of the offer on the successful conclusion of negotiations between Mercator and the banks that finance it regarding the reprogramming of credit obligations.