Mercator Moves Into Montenegro

Slovenian retail group Mercator recently announced that it reached an agreement to form a strategic tie up with Mex Market in Montenegro, as it continues to expand into more regional markets. According to the terms of the agreement, Mercator will hold 51% in the newly established company to which Mex will transfer retail operations. The name of the company will be changed to Mercator Mex on January 1, and it will operate eight stores and two shopping centers in Montenegro. Mercator has said that its projections for the annual revenue of this new company will surpass EUR35mn (US$34.7mn) in 2008,

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