Aussie businesses eye backdoor listing through suspended Mercator

Singapore

THE judicial manager of Mercator Lines (Singapore) has agreed to transfer its listed status to three Australian businesses, whose equity will be used to pay the shipping company's creditors and shareholders.

The implementation agreement, which is still subject to due diligence and regulatory, creditor and shareholder approval, was signed with Nickolaos Mitropoulos and Dimitrios Podaridis, who wholly own three Australian businesses: Champion Commodities, Country Fresh Milk and Champion Beverages.