Mercator, Slovenia's largest retailer, got new supervisors representing capital on Tuesday. The appointment was carried out under a counter-proposal by the state-run Pension Fund Management (KAD) and Restitution Fund (SOD).
The sell-off of the KAD and SOD stakes in retailer Mercator is a key point of Slovenia's economic development strategy, both state-run funds said in a joint press release on Friday.
The Pension Fund Management (KAD) and the Restitution Fund (SOD) sold their shares (16.33% and 13.74%, respectively) in Slovenia's largest grocer Mercator, on Wednesday.
The stakes were sold to energy, tourism and food group Istrabenz and brewer Pivovarna Lasko, which is in line with the funds' portfolio strategy, and will allow future growth for Mercator, KAD and SOD said.
The sell-off contracts have to be confirmed by the boards of both funds. KAD and SOD did not wish to disclose the value of the deal.
According to Pivovarna Lasko, Mercator's management proposed a purchase price of SIT 38,000 (EUR 158.61) per share.
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