December 23 (SeeNews) - Croatian privately-held concern Agrokor is selling soft drinks brand Juicy and related production assets to the local Stanic Grupa for 48 million euro ($65.7 million), Zagreb-based media reported.
The transaction, set to be financed by local lender Zagrebacka Banka [ZSE:ZABA-R-A], means that Agrokor's unit Jamnica [ZSE:JMNC-R-A] will now focus only on water bottling, news daily Jutranji List reported on Sunday, quoting unnamed sources.
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According to the daily, the disposal is part of efforts by Agrokor to raise funds to close the acquisition of Slovenian retailer Mercator announced earlier this year.
On Monday, Jamnica said it will provide guarantees alongside several other Agrokor units for a 150 million euro loan deal signed by its parent with Austria's VTB Bank AG.
Last week, global investment management company W.P. Carey said it is providing 67 million euro in sale-leaseback financing to Agrokor through a retail portfolio acquisition.
Based in Zagreb, Agrokor has operations in food and beverages, as well as in food retailing.
($=0.7311 euro)