Mercator can be saved

The Slovene Parliament is preparing a bill to rescue the Mercator retail store chain, which is the largest privately owned company in Croatia, the subsidiary of Agrokor that has serious financial problems – the local press reported yesterday.

The prospective law allows companies with more than 1 billion euros (313 billion HUF) annual revenues and companies employing more than 6,000 people to request extraordinary proceedings from the state, thus preventing bankruptcy. According to some calculations, Mercator’s income is 10 percent of Slovenia’s gross domestic product (GDP). Ivica Todoric, the owner of Agrokor, bought 53 percent of the Slovenian Mercator’s shares for a total of 550 million euros in 2014. (Vg.hu)