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Dec 18, 2009 15:27 EEST
December 18 (SeeNews) - Slovenia's largest food retailer, Mercator, said on Friday it raised its investments in Serbia by more than 15% to about 45 million euro ($64.6 million) in 2009.
“It is estimated that the company’s 2009 investment totals about 45 million euro, more than 15% higher on the year,” the head of Mercator’s Serbian arm, Stanka Curovic, said in a statement.
Mercator opened on Friday an 8.0 million euro, 9,000 square metre retail centre in Sombor, in Serbia’s northern province of Vojvodina. The retail centre was opened under the company’s M-Rodic brand. Mercator also opened seven supermarkets in Sombor earlier this year, the statement added.
On Thursday the retailer opened a 7.0 million euro, 8,000 square metre retail centre in Senta, also in Vojvodina.
Mercator bought a 12% stake in M-Rodic for an undisclosed sum earlier this year, and thus gained full control over the company. The Slovenian retailer bought 76% of M-Rodic for 116 million euro cash and shares in 2006 and raised its stake to 88% in 2008.
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