Deadline extended for Mercator purchaseThis article was originally published in Foodnews
Croatia’s leading food retailer Agrokor has been given a one-month extension until June 30 to wrap up the purchase of Slovenia’s food retailer Mercator, according to Slovenia’s largest beverage maker Pivovarna Lasko, one of the members in a Slovenian consortium attempting to sell a 53.34% stake in Mercator.
Agrokor was supposed to reach a deal with Mercator’s creditors to restructure the Slovenian retailer’s outstanding loans until May 31, as a condition for the takeover that was initially agreed last year, said Pivovarna Lasko in a June 2 release.
“The sale agreement remains valid. Both sides can walk away from the deal before the deadline expires. Agrokor may [also] waive the condition for debt restructuring. The deadline for the completion of the transaction is June 30,” declared Pivovarna Lasko.