March 6 (SeeNews) - Slovenian retailer Mercator [LJE:MELR] said its receivables from its parent Croatia's Agrokor total 8.4 million euro ($10.4 million), all of which have been recognised.
The commercial court in Zagreb recognised Mercator's claims against Agrokor and its units in their full amount on January 15, the Slovenian company said on Monday in a report filed with the Ljubljana bourse.
According to the report, Mercator purchased a total of 32.7 million euro worth of trade goods/merchandise from Agorkor and companies in its group in 2017, which is only 3.1% of all of the retailer's purchases.
In the reviewed period, Mercator also sold trade goods (or merchandise) to Agrokor Group companies in the amount of 4.2 million euro.
Mercator did not, however, grant any guarantee, warranty, surety, or any other similar commitment to any company of the Agrokor Group.
Agrokor took over Mercator in 2014 in a transaction that is said to have destabilised the concern financially. The concern's financial problems boiled over and become apparent early in 2017 when Moody's Investor Services changed its rating on Agrokor several times.
($=0.8059 euro)