Russian state-owned banks will receive nearly half of the largest retailer in Croatia

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Российские госбанки получат почти половину крупнейшего ритейлера Хорватии

The debt of the Croatian grocery retailer settled on the eve of the quarterfinals of the Russia – Croatia.

Hearings on the settlement of debt is the largest private company in the Balkans – Croatian retailer Agrokor began Wednesday morning at the basketball stadium in Zagreb. They called 3069 of the company’s creditors, who showed her requirements, but have not received a refund.

About a quarter of the debt owed by the Russian state-owned banks. The Sberbank, Agrokor is about 1.1 billion euros, VTB – about 300 million euros, write “Vedomosti”.

The deal, which will give the company in the hands of creditors and holders of bonds, voted by the holders of 80% debt – at 33.8 billion kunas (4.6 billion euros), including Sberbank.

Sberbank as a result of restructuring will be the largest owner of the company with a share of 39%, VTB will be about 7%.

More recently, Agrokor was the largest private company in Croatia. At the beginning of 2016, worked on it 60 000, the group’s revenue in 2015 amounted to 6.6 billion euros, net profit of 175 million euros. But it turned out that the group accounts are unreliable, to pay off the banks and suppliers it has nothing. Croatia passed a special law to support the company – its collapse would have caused a recession in the country.

 

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