Mercator Assumes Full Control Of Local Subsidiary

Slovenia's leading mass grocery retailer (MGR) Mercator has assumed full control of M-Rodic - its Serbia-based supermarket subsidiary - after buying up the outstanding 12% stake of the retailer it did not already own. Mercator's Serbian business is believed to have turned over EUR454mn in FY08 and is a key component in its continued efforts to earn a greater proportion of its revenue from foreign markets. Although 2009 will be a difficult year for Serbia's retailers as economic weakness is expected to dampen sales, BMI still considers Serbia an attractive MGR market for regional retailers aiming to diversify. Through to

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