Prime Minister Meets with New Agrokor Boss

Total Croatia News

Efforts to save Croatia’s largest privately-owned company continue.

Prime Minister Andrej Plenković and chief restructuring officer of Agrokor Antonio Alvarez met on Wednesday evening in Zagreb and said that the most important thing was to restore confidence of creditors, suppliers and customers, reports Večernji List on April 6, 2017.

“I think that is the most important message to the Croatian public, the media and to all stakeholders in this whole situation – from people who are employed by the group, suppliers, creditors and the general public. The most important thing is that at this time we send a message of confidence, a message of restructuring, a message of long-term viability of the company, and a message of stability of Croatian economy,” said Plenković.

That is key, said the Prime Minister after his meeting with Alvarez. He added that the discussion was very useful for the government – to have a clear picture of what are the next steps – as well as for Alvarez – to know the intentions of the government with regards to the new Law on procedure of extraordinary administration in companies of systemic importance which will be adopted on Thursday.

The Prime Minister believes that the meeting would contribute to the overall stabilization of the situation related to Agrokor. “Our assessment and our plans are very compatible with advice which Mr. Alvarez is giving to the company. The government is ready to work in the best interest of the Croatian economy and Croatian taxpayers,” said Plenković.

“Today I had a very full day,” said Alvarez, adding that his team was in discussions with key suppliers. He said that he was contacted by CEOs of major suppliers who want to meet with him. “I have explained to Prime Minister Plenković our activities and our efforts,” said Alvarez. “We want for Agrokor not just to survive, but also to prosper. We want to encourage Croatian citizens to buy from us so that we can together save Agrokor,” said Alvarez.

He added that the situation in Agrokor was one of the most difficult situations which he and his team have ever faced, and said that he was responsible for everything related to the restructuring of Agrokor. He did not want to discuss the details, emphasizing that his main goal was to ensure the liquidity of the company. “In terms of restructuring, I make the decisions,” said Alvarez when asked who is the head of Agrokor.

“I do not want to comment at this time on the moves that we are making and planning to make in the future. My goal is to ensure the liquidity of the company,” he said, asked whether it was his decision to dismiss management teams in Agrokor’s companies Konzum and Mercator.


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