Slovenian retail chain Mercator has begun selling 16 of its large shopping malls, eight of which are in Slovenia, four in Croatia, and the rest in Serbia and Bosnia and Herzegovina, Tanjug reports quoting Slovenian media
The Serbian news agency, Beta reports that Mercator has hired consultants JLL and Colliers to estimate the value of the company’s real estate and land that is currently not in use, and to put together a tender for their sale. Estimates have shown that the total value of real estate that Mercator Group plans to sell in the region is about 410 million EUR.
The aforementioned real estate, to be put up for sale, includes the Mercator Center in Novi Sad and Roda FOB in Novi Beograd, spanning 100,000 square meters. Several potential buyers have already come forward with their intention to purchase these two shopping malls.
Analyses have shown that, out of the entire Mercator Group, its retail segment in Serbia has the biggest potential for growth because forecasts have shown that the purchasing power in Serbia will grow, as will the national GDP and employment. Plus, Serbia has the stable national currency.
Mercator S, the company’s division in Serbia, employs 9,600 people. Both Idea and Roda supermarkets operate under Mercator S.
According to the Croatian daily, Jutarnji List, Mercator intends to generate about 320 million EUR by 2021 from the sale of its real estate in order to reduce the debt amounting to about 850 million EUR.