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Ljubljana – Merkator started selling 13 shopping centers, one in Slovenia and 12 in Bosnia and Herzegovina, Croatia and Serbia.
Source: Tanjug
In doing so, it continued to implement the Mercator Group's debt reduction strategy. Last year, Mercator sold 10 shopping centers in Slovenia to the Austrian investor Supernova, and now sells a shopping center in Koper, as well as four properties in Croatia, six in BiH and two in Serbia, said Dnevnik, based in Ljubljana.
All properties are for sale on a lease basis, which means that Mercator will remain the tenant of the property it currently owns, reports STA.
The sale of facilities is part of the strategy from 2014, when it was decided to reduce the debt of the "Mercator Group" through asset monetization project and enable its long-term development. term and its investment in the main business – the retail sale of consumer goods.
The company's strategic objective is to further reduce its debt in order to provide financial resources for new investments in the development of its business by 2021.
"Over the past two years, the Mercator Group has increased EBITDA (earnings before interest, taxes, depreciation and amortization), which sees IDEA stores, Roda markets and Mercator hypermarkets operating, up more than 72 percent. compared to 62.3 million The Mercator Group has managed to reduce its debt by almost 200 million euros, which has reduced the ratio of net debt / EBITDA from less than 14.1 to less than six " , did he declare.
Mercator was part of the Croatian firm Agrokor, which had ceased to exist under this name in April because of huge debts, and its activity was taken over by the newly formed group Forten.
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