Mercator sale sparking panic

The announcement that an international tender will be held for the sale of Mercator has caused panic in Slovenia. This week’s announcement of the international tender, which is due to be officially called next week, whereby the Lasko Brewery would sell its 48 percent stake in Mercator, has once again triggered debate in Slovenia regarding national interests. Mercator sale sparking panic Added panic has been caused by the news that Serbian Delta and Croatian Agrokor have already announced their interest in buying Mercator. As a result, the Slovenian media is already speculating that Mercator could be taken over by “tycoons, Croatian or even Serbian.” Mercator’s management opposes the sale and believes that it can continue to operate independently. The company’s union also opposes the sale, believing that it could lead to redundancies and even the closure of specific sectors within Mercator. Under Slovenian law, any future buyer would, immediately upon buying Lasko’s stake, then have to submit an offer to buy up the rest of the company, thus becoming the new majority owner. If the buyer is a foreign company, the union is afraid that foreign products will be given preference over Slovenian ones, which currently make up 70 percent of the products sold by Mercator. The Mercator union was joined by the Retail Workers Union, which proposed that the state buy Mercator in order to keep it Slovenian. This proposal was submitted by the president of the Slovenian National Party (SLS), Bojan Srot, whose brother is Bosko Srot, chairman of the Lasko Board of Directors, which announced that Mercator was going up for sale. The state sold Bosko Srot a significant part of its shares three years ago, and he says that he will now sell them at half the price of what he paid for them. Meanwhile, the Slovenian parliament is expected to confirm its new prime minister today, Borut Pahor. Outgoing Prime Minister Janez Jansa has already rejected the proposal for the state to buy up Mercator’s shares, and Pahor says that he will leave the issue open to discussion, even though he has already said that the state should not interfere in market matters. Jansa added that the sale of Mercator was a form of pressure on the government by the Lasko Brewery. In today’s issue of Finance magazine, Bosko Srot said that the Mercator sale was something everyone had wanted and even praised, but now that it had been announced, everyone had changed their mind and was complaining. “I really do not understand these Slovenians, do you?” Srot concludes.

Mercator sale sparking panic

Added panic has been caused by the news that Serbian Delta and Croatian Agrokor have already announced their interest in buying Mercator.

As a result, the Slovenian media is already speculating that Mercator could be taken over by “tycoons, Croatian or even Serbian.”

Mercator’s management opposes the sale and believes that it can continue to operate independently. The company’s union also opposes the sale, believing that it could lead to redundancies and even the closure of specific sectors within Mercator.

Under Slovenian law, any future buyer would, immediately upon buying Laško’s stake, then have to submit an offer to buy up the rest of the company, thus becoming the new majority owner.

If the buyer is a foreign company, the union is afraid that foreign products will be given preference over Slovenian ones, which currently make up 70 percent of the products sold by Mercator.

The Mercator union was joined by the Retail Workers Union, which proposed that the state buy Mercator in order to keep it Slovenian.

This proposal was submitted by the president of the Slovenian National Party (SLS), Bojan Šrot, whose brother is Boško Šrot, chairman of the Laško Board of Directors, which announced that Mercator was going up for sale.

The state sold Boško Šrot a significant part of its shares three years ago, and he says that he will now sell them at half the price of what he paid for them.

Meanwhile, the Slovenian parliament is expected to confirm its new prime minister today, Borut Pahor.

Outgoing Prime Minister Janez Janša has already rejected the proposal for the state to buy up Mercator’s shares, and Pahor says that he will leave the issue open to discussion, even though he has already said that the state should not interfere in market matters.

Janša added that the sale of Mercator was a form of pressure on the government by the Laško Brewery.

In today’s issue of Finance magazine, Boško Šrot said that the Mercator sale was something everyone had wanted and even praised, but now that it had been announced, everyone had changed their mind and was complaining.

“I really do not understand these Slovenians, do you?” Šrot concludes.