June 1 (SeeNews) - Ljubljana-based Mercator [LJE:MELR] will re-enter the Bosnian market in three stages, following a decision of Croatian ailing food-to-retail concern Agrokor to put the Slovenian retailer in charge of its operations in Bosnia instead of Konzum, Bosnian media reported on Thursday.
Firstly, Mercator will take control of the stores it owned in Bosnia prior to the 2014 takeover, in which Agrokor become the majority shareholder of the Slovenian company, news daily Dnevni Avaz reported, citing Bosnian foreign trade minister Mirko Sarovic.
After Agrokor gained control of Mercator, it replaced all Mercator-branded stores in Bosnia with its own Konzum retail network.
Secondly, Mercator will acquire Konzum's stores located in shopping centers, and in the third and final stage it will become the manager of all of Konzum's facilities and its entire property in Bosnia.
"In essence, this would not change the ownership structure, Mercator will only take over the management", the newspaper quoted Sarovic as saying.
Agrokor announced last month it was bringing Mercator back to Bosnia in order to improve the concern's long-term positioning in the country and further development in the regional market.
The concept is yet to be approved by both Konzum and Mercator.
In 2014, following the takeover of Mercator by Agrokor, Konzum was put in charge of retail operations in Croatia and Bosnia. Mercator's fast-moving consumer goods stores in Croatia and Bosnia were leased out at arm's length principle to Konzum.
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