Agrokor to take over Novi Sad-based Univerexport?

The biggest Croatian capitalist, who owns Idea, is interested in takeover of Univerexport, the leading trade retailer in Vojvodina, Akter writes in a new edition.

As this weekly paper finds out, Agrokor is seriously researching and analyzing Univerexport. The company of Ivica Todoric has carried out the first talks with the management of the company when they revealed their intention and interest in the potential purchase.

It is a future question of how this will go on. Accordng to 2009 figures, Agrokor through Idea retail chain had some 8.3% stake in Serbian retailer with 101 stores and their number has increased today to over 160 stores and 4500 staff.

According to the Agency for Competition protection data, the 2001 stake was some 15%. When speaking of income, data of the Real Estate Registry show that in 2011 Idea has some 475 million euro realization.

On the other hand, Univerexport market share totals some 4% and after the sales of Maxi to Belgium Delaine, the company kept the position of the biggest domestic retailer.

Agrokor’s market share at the local market would significantly increase by Univerexport takeover. This way, the company would approach Mercator with some 22% market share.

Otherwise, 2011 consolidated income of Univerexport totaled some 16 billion dinars.