Serbian Commission conditionally clears Agrokor’s takeover of Mercator
By Dragan Gajin
On 25 December 2013, the Serbian Commission for Protection of Competition conditionally approved the takeover of the leading Slovenian commercial chain Mercator by Agrokor, the largest privately owned Croatian company. Through their respective subsidiaries, both Mercator and Agrokor are active in Serbia on the market of wholesale and retail of fast-moving consumer goods, while Agrokor is also active in the production of food and drinks. The core market of both companies is retail. Based on the respective turnovers generated in 2012, Mercator and Idea (Agrokor’s retail company in Serbia) were the second- and third-largest retailers in Serbia respectively.
According to information from the commission’s decision, Agrokor notified the proposed concentration on 28 June 2013, following the execution of an sale and purchase agreement between Agrokor and a consortium of majority shareholders of Mercator of 14 June 2013. Based on this agreement, Agrokor undertook to purchase 53.12 per cent of shares in Mercator, thereby acquiring sole control of the company.
Although in its notification Agrokor proposed that the commission approve the proposed transaction in summary (Phase I) proceedings, the commission on 3 September 2013 decided to open a Phase II investigation of the merger and invited all interested parties to deliver to the commission any information that may contribute to establishing the relevant facts in the proceedings. The commission noted that an investigation was necessary due to the merger’s horizontal (arising out of the overlap in business activities between the concentration participants) and vertical (in relation to the fact that Agrokor’s activities include both production and retail of certain products) aspects alike…
Click on the link below to read the rest of the BDK briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from BDK Advokati/Attorneys at Law
Briefings from BDK Advokati/Attorneys at Law
The Serbian insurance industry is welcoming the new Insurance Act, which substantially overhauls regulation in this area.
Serbia has chronic issues with the length of the procedure for the issuance of construction permits.