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UPDATE 1-Russia's Magnit denies report it may buy Agrokor retail units
March 20, 2017 / 11:34 AM / in 9 months

UPDATE 1-Russia's Magnit denies report it may buy Agrokor retail units

(Adds Magnit denial)

LJUBLJANA, March 20 (Reuters) - Russia’s largest retailer Magnit denied on Monday that it planned to buy retail units from indebted Croatian food group Agrokor, after the Slovenian daily paper Finance reported its interest.

The daily, which did not cite sources for its report, had said Magnit could buy the largest Slovenian retailer Mercator, Croatian retailer Konzum and Serbian retailer Idea, which are all owned by Agrokor.

Magnit denied the report, while officials at Agrokor were not immediately available for comment.

Agrokor, the biggest Croatian private company and also the biggest food producer and retailer in the Balkans, has faced pressure from investors and the Zagreb government to clear up its debts.

Agrokor said on Sunday it was working on a new business model to protect employees, suppliers and other partners. (Reporting by Marja Novak and Igor Ilic in Zagreb and Olga Sichkar in Moscow; Editing by Edmund Blair)

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