Polish Merkury Market takes over Emmezeta company in Serbia, News
The Polish Merkury Market is in the final phase of taking over sixteen Emmezeta shopping centers in Croatia and Serbia from LCN Capital Partners in a transaction worth around 120 million euros, the Croatian weekly Lider revealed, and this information was confirmed by Slobodan Skolnik, CEO of Emmezeta Balkans.
Emmezeta in Serbia has five department stores in its composition, and in 2019 it generated income of 29 million euros.
Merkury Market was founded in 1991, first expanded from its native Poland to Slovakia, and intensified its regional expansion in 2015 with the purchase of 18 Baumax shopping centers in the Czech Republic. Now, with one move, it will spread to Croatia and Serbia. Taking over Baumax’s stores in the Czech Republic, Merkury renamed them his own. Therefore, it will be interesting to see whether Emmezeta will experience a similar fate or will continue to operate under its current name.
Forbes magazine regularly ranks Mercury Market owner Jan Papierz among the 100 richest Poles, saying he is a billionaire who started a business in his native Krosno in 1991 by opening a building materials warehouse and currently has 20 shopping malls in Poland alone, Bonitet reports.
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