"Mercator" became exclusive owner of "M-Rodić" - remaining 12% of stock taken over

Slovenian market chain "Mercator" has taken over additional 12% of stocks of market chain "M-Rodić" and, thus, became the only owner of that Novi Sad-based company.

"Mercator" announced on the website of the Ljubljana Stock Exchange on May 29th that it had bought the remaining stocks of "M-Rodić" on the basis of the contract for strategic merger, which had been signed in October 2006. According to that contract, the price of 100% of capital of "M-Rodić" amounted to 152m EUR.

According to the contract from year 2006, "Mercator" became the owner of 76% of capital of "M-Rodić", and it bought another 12% in 2008 and remaining 12% just now.

The price of 76% of stocks of "M-Rodić" amounted to 116m EUR, and the price of the remaining 24% depended on the company's business results in 2007 and 2008.

Slovenian "Mercator" is present in Serbia through companies "Mercator S" and "M-Rodić", with which it covers 8% of Serbian market.

"Mercator S" registered 454m EUR worth of incomes in the market of Serbia in 2008, which is 32% more than in 2007, and it announced that it would invest 30m EUR in development of business in Serbia in 2009.

"Mercator group" operates in Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro and Bulgaria where it founded a company in 2008, and it also has a firm in Macedonia.