Agrokor, the new majority owner of Slovenia’s retailer Mercator, has put more than 210 real estate assets owned by the Ljubljana-based retail group for sale.
In particular, Slovenian real estate assets, worth approximately EUR 110 mln, have been put for sale. It is about 170 different properties, dominated by small food shops, commercial complexes and land.
At the end of 2013, Mercator Group owned land plots, worth more than EUR 0.5 bln and buildings, valued at EUR 990 mln. The purchase value of all property and land owned by the Mercator Group was EUR 2.06 bln, while before accounting policy changes the purchase price was higher by nearly EUR 400 mln.
In addition, Mercator has exposed 45 stores and shopping centers in Croatia for sale. The price for these shops, totaling 91,400 sq. m, and their land sites, could reach around EUR 100 mln. For all 210 properties Mercator could receive more than EUR 200 mln, which is only a quarter less than the Agrokor paid to purchase an 81-pct stake in the retailer.
Part of the proceeds from the sale of real estate and the remaining non-operating assets will be used for debt repayment. At the end of June, Mercator Group’s debt burden was EUR 1.05 bln, Dnevnik.si reports.
Source: PropertyXpress