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Slovenian watchdog seizes Mercator shares from Croatia's Fortenova

Christian Fernsby |
The Competition Protection Agency (AVK) has temporarily seized 70% of Mercator shares from its owner, Croatian group Fortenova (ex Agrokor).

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The move is to ensure that Agrokor pay a EUR 53.9 million fine the agency imposed in September after Agrokor failed to notify it of its 2016 takeover of Slovenian bottled water company Costella.

Slovenian Competition Protection Agency has imposed a fine of EUR 53,900,000 on legal entity Agrokor d.d.

and a fine of EUR 5,000 on legal person responsible for the failure to notify the merger of Agrokor AG and Ardeya Global Ltd. to the Agency.

By concluding a Forward Share Purchase Agreement dated May 14, 2016, between Agrokor AG (which is 100 % owned by Agrokor d.d.) and Alsafi Partners td., the legal entity Agrokor d.d.

became obliged to notify the merger to the Agency as Ardeya Global owns 100 % interest in Costella d.o.o. Since Agrokor d.d.

despite the Agency’s request, did not notify the merger, on 9 April 2019 the Agency introduced ex officio concentration control proceedings.

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