"Mercator" to take over "Delta Maxi"?
- By selling real estates and renting 20% of new capital, Slovenian "Mercator" is getting ready for takeover of company "Delta Maxi" - "Finance" announced.
It is written in today’s issue of "Finance" (September 25, 2009) that “Mercator” would buy Miroslav Mišković’s “Delta Maxi” by exchanging stocks and providing cash. People in "Mercator" have not given any comment on the newspaper’s announcement, but they are advertising sale of 36 properties in Slovenia at the moment. Incomes from the sale of these properties should be one of the sources of finance for "Mercator’s" new investments.
The purpose of the additional capitalization that "Mercator" plans to carry out is “timely provision of additional sources of finance for realization of possible strategic mergers”.
"Finance" reminds that the retail activities of business group “Delta”, which is the leading trade company in Serbia and Montenegro and ranks second in Bulgaria with its trademark “Piccadilly”, are concentrated in "Delta Maxi". This company is also present in Srpska Republic and Albania, while "Mercator" is about to open its first stores in Bulgaria and Albania.
According to the estimates of "Finance", "Mercator" would need about 400m EUR to take over "Delta Maxi", and the company from Slovenia would buy half of the Serbian market chain in the first phase, for which they need about 200m EUR.
"Mercator" would make financial structure by means of approved capital and cash. "Delta" would get 20% of stocks, while the rest, that is, 70m EUR, would be provided by “Mercator” from loans and the sale of real estates because "fresh capital”, as a result of the additional capitalization, would create a new additional credit potential of "Mercator".
"Finance" also adds that Mišković is significantly shaken by the crisis, but, according to the newspaper’s sources in Serbia, he is not yet forced to start panic sale of the company.
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