March 14 (SeeNews) - Croatian wholesaler and retailer Brodomerkur [ZSE:BDMR] said it has sold a former warehousing and sales property in Split, southern Croatia, for 5.5 million euro ($5.9 million) to reduce debt.
It is the first transaction under the company’s strategy to focus on its core business by selling non-active real estate and units related to energy and mining, the company said in a filing to the Zagreb bourse on Monday.
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In this way, the company will provide liquidity and capital base for investments in further growth and will improve the competitiveness of its core business - wholesale and retail of construction materials and home equipment.
Brodomerkur's shares last traded on the Zagreb bourse on March 8, when they closed flat at 60 euro.
($ = 0.934 euro)