Slovenian retailer Mercator announced that it has signed a deal on the sale of 10 shopping centers in Slovenia to Austria’s Supernova group for 116.6 million EUR (134.9 million $).
Under the sale contract, Mercator will rent parts of the centers where it performs its principal activity, the company said in a filing to the Ljubljana Stock Exchange.
“The signed contract is proof that Mercator continues to successfully execute the monetization project, which is intended to reduce the Group’s debt and enable its long-term development. The sale of ten shopping centers in Slovenia concludes the second phase of the monetization project, which Mercator shall continue to carry out in the future”, announced by Mercator's statement.
According to Mercator, the monetization project began with the sale of its shopping center in Belgrade at the end of last year.
“At the beginning of this year, Mercator launched an international tender, inviting international investors and investment funds whose principal activity is property management. The project included 17 centres in Slovenia, Croatia, and Bosnia and Herzegovina. After the sale of the centers in Slovenia and the conclusion of the second phase of the monetization, Mercator shall initiate the third phase, which includes the sale of centers in the remaining two countries,” the company noted.
Mercator Group is one of the largest corporate groups in Slovenia, as well as in the entire region of South Eastern Europe. It brings together ten companies in Slovenia and seven associate companies that operate under Mercator Group on the other seven markets of South-eastern Europe. The controlling company of the Group is Poslovni sistem Mercator, d.d., based in Slovenia.
Founded in 1994, Supernova is a real estate and development company, headquartered in Graz, with offices in Vienna, Ljubljana, Zagreb, Bratislava and Belgrade. The company has completed more than 105 real estate projects since its establishment. Its portfolio exceeds the value of 1 billion EUR in assets.