Banja Luka bourse admits to trading 20.3 mln euro worth of T-bills
Auchan Romania opens new supermarket in Timis county
Bosnia's Serb Republic retail sales up real 3.6% y/y in Oct
Bulgaria's Sirma Group sharply cuts 9-mo cons net loss
BELEX15 sheds 0.24%, NIS loses most
Dec 01, 2017 11:34 EEST
November 30 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] said on Friday it has not suffered any loss or damage from transactions effected with its majority shareholder, Croatia's ailing food and retail concern Agrokor.
Mercator has reviewed all transactions with Agrokor and the companies affiliated to it between August 9 and October 31 this year and the review again confirmed no damage has been done to Mercator, it said in a filing to the Ljubljana bourse.
The report compiled following the review outlines purchase and sale of trade goods/merchandise between Mercator and its parent, financing, real estate, marketing services, IT services, services related to the Pika card, and the balance of receivables and payables.
According to the report, Mercator purchased a total of 26.2 million euro ($31.3 million) worth of trade goods/merchandise from Agorkor and companies in its group in the first 10 months of the year, which is only 2.8% of all of the retailer's purchases.
In the reviewed period, Mercator also sold trade goods (or merchandise) to Agrokor Group companies, including PIK Vrbovec, Ledo, Zvijezda, and Kompas, in the amount of 4.1 million euro.
Mercator did not, however, grant any guarantee, warranty, surety, or any other similar commitment to any company of the Agrokor Group.
Agrokor took over Mercator in 2014, in a transaction that is said to have destabilised the concern financially. The concern's financial problems boiled over and become apparent earlier this year when Moody's Investor Services changed its rating on Agrokor several times.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options