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Slovenia's Mercator to Buy Stores from Pantomarket

Source: Mercator
01/07/2010

Podgorica, July 1 – The company Pantomarket, d.o.o., Herceg Novi, and the company Mercator-S, d.o.o., Novi Sad, signed an agreement on a strategic alliance. Based on this agreement, the company Mercator-CG, d.o.o., Podgorica, will take over the trade activities and all employees of the companies Pantomarket, d.o.o., Herceg Novi, and Plus Commerce, d.o.o., Nikšic, as well as obtain 77 trade facilities owned by the two companies, with a total gross sales area of 31,700 square meters, on a long-term lease.

Furthermore, the strategic alliance also includes long-term cooperation between the Mercator Group and the manufacturing companies of the Panto Group in the field of procurement of food products.

Together, companies Pantomarket, d.o.o., Herceg Novi, and Plus Commerce, d.o.o., Nikšič, are the largest fast-moving consumer goods retailer in the Montenegrin market. This strategic alliance will increase Mercator's share in the market of Montenegro from the current 4 percent to approximately 20 percent, making it the largest fast-moving consumer goods retailer in the market. The strategic alliance is consistent with Mercator's strategy of growth and the vision of becoming the largest fast-moving consumer goods retailer in the entire region of Southeastern Europe.

The agreement on strategic alliance will become effective as soon as all permits are obtained from the Montenegrin Competition Protection Office.

Also attached to this public announcement is the fairness opinion by the independent financial advisor from the viewpoint of the company Mercator, d.d., and its shareholders.



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