Croatia's food concern Agrokor said on Tuesday it signed a cooperation agreement with Slovenian retail chain Mercator today, in accordance with a contract under which Agrokor is buying a 53.12 per cent stake in Mercator.
The agreement defines Agrokor's cooperation with Mercator's management until the completion of the transaction, Agrokor said in a statement.
The agreement was signed by Agrokor president Ivica Todoric and Mercator CEO Anton Balazic, with the two parties committing to cooperation in the execution of the sales contract.
Agrokor on Friday signed a contract with a consortium of 12 owners to buy a 53.12 per cent stake in Mercator, for which the Croatian concern will pay EUR 240 million.
Mercator is the leading retail chain in Slovenia with 23,920 employees and 1,600 stores. Its annual revenue is about EUR 2.8 billion. The Mercator Group comprises 36 companies, of which 19 based in Slovenia and 17 in seven Southeast European markets.
