ZAGREB (Croatia), Sept.27 (SeeNews) – Polish DIY retailer Merkury Market has bought 16 Emmezeta furniture and appliance stores in Croatia and Serbia for more than 120 million euros ($ 140 million) from American real estate investments company LCN Capital Partners, according to Croatian media.
âThe transaction is closing,â local magazine Lider reported late last week.
“We will not comment on this information,” Slobodan Skolnik, CEO of Emmezeta Balkans, told SeeNews in an emailed statement on Monday. Representatives from Merkury Market and LCN Capital Partners were unavailable for comment.
Merkury Market operates more than 60 building material and furniture stores in Poland, Czech Republic and Slovakia. In Croatia, Emmezeta operates stores in Zagreb, Osijek, Split, Rijeka, Slavonski Brod, Varazdin, Pula, Dubrovnik and Zadar. In Serbia, it has stores in Belgrade, Novi Sad, Nis and Cacak.
In the two countries of South-East Europe, it also operates online shops.
The Emmezeta brand stores in Croatia are under the management of the Croatian registered company Fliba doo, of which the CEO Skolnik is and a member of the board of directors and the chief financial officer is Andrzej Pawel Sitarz. Skolnik is also CEO of Serbian company Emmezeta Srbija doo, whose board member and CFO is also Sitarz.
According to the register of the Croatian court, in February Merkury Market established a service company in the Adriatic country, LCN EMZ Adria doo, with a registered capital of 50.69 million kuna ($ 7.9 million / 6.8 million euros). Sitarz is one of its three managers.
(1 euro = 7.504 Croatian kuna)