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2009-09-03 00:00:00
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The European Bank for Reconstruction and Development (EBRD) has finalised a US$50mn loan to leading Croatian mass grocery retailer (MGR) Konzum. The loan will strengthen the retailer's balance sheet and allow it to push ahead with plans to launch regional stores in Bosnia & Herzegovina, a market it already leads. Owned by diversified Croatian conglomerate Agrokor, Konzum has been strengthening its presence in former Yugoslavian markets such as Bosnia & Herzegovina, Serbia and Macedonia over the past few years. Although Bosnia & Herzegovina's population is only 4mn, the MGR industry is highly fragmented. BMI's estimates Konzum's market share to be.
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