Sberbank acquires a stake in Slovenia’s food retailer Mercator – EuropaProperty

Russia’s Sberbank has acquired an 18.53 percent stake in the Slovenian food retailer Mercator from the Croatian conglomerate Agrokor. The acquisition was carried out at a public auction initiated by Sberbank and is worth EUR 40.6 million.

By purchasing Mercator shares, Sberbank aims to help Agrokor reduce its debts. The Russian bank, which is the Group’s biggest creditor, stated that it “fully understands Mercator’s crucial role for the Slovenian economy and will act in the best interest of the company.”

Croatian conglomerate Agrokor, the biggest employer in the Balkan region, began facing financial troubles after accumulating large debts due to rapid expansion activities.

Following the acquisition, the group remains the majority shareholder of Mercator the largest Slovenian retailer with business operations across the South East Europe region.