Mercator deal called offThis article was originally published in Foodnews
CROATIA’s largest agri-business, Agrokor, has decided to withdraw its non-binding financial offer to take over 52.1% of Slovenia’s largest food retailer, Mercator, the Croatian company announced on 7 February. Agrokor revealed that its attempts to reach a deal with the consortium selling the majority stake in Mercator, represented by ING Bank, were not successful. “Consequently, we have decided to cancel the exclusivity contract with the consortium on 6 February and to drop our offer after a protracted period of negotiations,” Agrokor explained. Agrokor’s non-binding bid was selected as the most favourable on 11 November, 2011, when exclusive negotiations on the acquisition started.