LJUBLJANA, March 17 (Reuters) - The stake of top Slovenian food retailer Mercator offered for sale shrank to 16 percent after two more local banks decided to pull out of the tender, the Dnevnik daily newspaper reported on Wednesday.
Last year eight banks offered their joint stake of 36.35 percent in a tender and received eight non-binding bids in February.
Two banks pulled out of the bid later in February, saying the price offered was too low, while another two banks - Nova KBM and Abanka Vipa pulled out this week, Arkas, the company managing the sale told Dnevnik.
Arkas was not available for an immediate comment.
According to unofficial information, investment funds Mid Europa, Warburg Pincus, Bain Capital and Advent International were shortlisted to perform due diligence in Mercator, Dnevnik said.
Mercator has market capitalisation of 605 million euros ($826.7 million) and operates stores in Slovenia, Serbia, Croatia, Montenegro, Bosnia, Bulgaria and Albania.
($1=.7318 Euro)
(Reporting by Marja Novak; Editing by Zoran Radosavljevic and Hans Peters) Keywords: MERCATOR TENDER/ (marja.novak@reuters.com; 386-1-47-00-520; Reuters Messaging: marja.novak.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Last year eight banks offered their joint stake of 36.35 percent in a tender and received eight non-binding bids in February.
Two banks pulled out of the bid later in February, saying the price offered was too low, while another two banks - Nova KBM and Abanka Vipa pulled out this week, Arkas, the company managing the sale told Dnevnik.
Arkas was not available for an immediate comment.
According to unofficial information, investment funds Mid Europa, Warburg Pincus, Bain Capital and Advent International were shortlisted to perform due diligence in Mercator, Dnevnik said.
Mercator has market capitalisation of 605 million euros ($826.7 million) and operates stores in Slovenia, Serbia, Croatia, Montenegro, Bosnia, Bulgaria and Albania.
($1=.7318 Euro)
(Reporting by Marja Novak; Editing by Zoran Radosavljevic and Hans Peters) Keywords: MERCATOR TENDER/ (marja.novak@reuters.com; 386-1-47-00-520; Reuters Messaging: marja.novak.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.