Mercator buys 76 percent of Rodić
The Slovenian retailing chain Mercator has bought 76 percent of Serbian Rodić M&B for 116 million euros.Source: B92
Mercator stated that they have signed an agreement for buying the majority portion of shares for the Rodić M&B company. Rodić M&B will keep the other 24 percent of its shares until 2008, at which time Mercator will purchase another 12 percent, followed by the remaining 12 percent in 2009.
The price of the final 24 percent of shares will depend on the business results of Rodić M&B in 2007 and 2008. Because of this, Mercator predicts that the final price for 100 percent of the company’s shares will be in between 137 and 177 million euros.
The average market price of company shares on the Ljubljana stock market will be 174.517 euros per share.
With this transaction the Serbian company will become one of the largest owners of the Mercator company, because the sale of its 76 percent of ownership will give the company five percent ownership of Mercator’s shares, a statistic which will also increase as the sale is finalized in the coming years.
Mercator stated that its ties with Rodić will be a key step towards realizing Mercator’s strategic goal of becoming the leading food product producer in the entire Southeast European region.