April 13 (SeeNews) - Croatia's Fortenova decided to withdraw all the shares of its fully-owned Slovenian subsidiary Mercator [LJE:MELR] from trading on the regulated securities market, Mercator said.
Fortenova, the successor to the collapsed food-to-retail concern Agrokor, approved the delisting of all 6,257,610 ordinary no-par value Mercator shares with the MELR ticker from the Ljubljana Stock Exchange, Mercator said in a filing with the Ljubljana bourse on Tuesday.
The delisting was approved at an extraordinary shareholders meeting held by Mercator on April 12, the retailer said.
On the day of the meeting, Mercator held 42,192 own shares without voting rights.
Fortenova became the sole owner of Mercator after squeezing out minority shareholders in a 22.4 million euro ($25 million) deal on April 4. Days later, on April 9, Fortenova said its biggest shareholder, Russia's top lender Sberbank, signed an agreement with the intention to sell its 44% stake in the Fortenova Group to Hungarian asset manager Indotek.
Mercator was part of the Agrokor group from 2014 until April 2019, when all Agrokor assets except Mercator were transferred to Fortenova under a settlement agreement with Agrokor's creditors. Agrokor, which used to employ some 60,000 people in the region, has been undergoing restructuring led by a court-appointed crisis manager under Croatia's special law on companies of systemic importance passed in April 2017 with the aim of shielding the country's economy from big corporate bankruptcies.
($ = 0.9225 euro)
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