Report: Croatia to move Agrokor under control of creditors

MOSCOW, Dec 21 (PRIME) -- Croatia will establish a holding company to consolidate all assets of agricultural and retail holding Agrokor, as well as its liabilities, which are to be converted into an equity capital owned by the company’s creditors, Bloomberg reported late on Wednesday citing materials of the company for reporters.

In November, Agrokor admitted around U.S. $6.49 billion of liabilities, but still disputes claims for $2.6 billion including $1.3 billion owed to Russia’s biggest lender Sberbank.

Bloomberg reported that the settlement plan is expected to be finished by July 10, 2018. The plan will be effective if approved by creditors owning at least 66% of the debt.

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